Tel Instrument Electronics Corp (TIKK) financial statements (2021 and earlier)

Company profile

Business Address ONE BRANCA ROAD
EAST RUTHERFORD, NJ 07073
State of Incorp. NJ
Fiscal Year End March 31
SIC 367 - Electronic Components And Accessories (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2020
Q3
9/30/2020
Q2
6/30/2020
Q1
3/31/2020
Q4
12/31/2019
Q3
9/30/2019
Q2
6/30/2019
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,9423,4533,1863,1261,6672,247982
Cash and cash equivalents2,9423,4533,1863,1261,6672,247982
Restricted cash and investments2,0112,0102,0102,0092,0082,0072,006
Receivables1,8811,9521,8091,4122,8131,3021,576
Inventory, net of allowances, customer advances and progress billings2,9313,0493,4843,0933,0713,0753,098
Inventory2,9313,0493,4843,0933,0713,0753,098
Other undisclosed current assets239404289382362296274
Total current assets:10,00410,86910,77710,0219,9208,9267,935
Noncurrent Assets
Operating lease, right-of-use asset147201254307358409459
Property, plant and equipment230222250264263257241
Deferred income tax assets2,6492,5922,6512,713   
Other noncurrent assets35353535353535
Other undisclosed noncurrent assets    646464
Total noncurrent assets:3,0613,0503,1903,318720765799
TOTAL ASSETS:13,06513,91913,96713,34010,6409,6918,734
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,1391,0611,3841,2531,3281,092921
Accounts payable681578944740   
Employee-related liabilities458484440513488466421
Other undisclosed accounts payable and accrued liabilities    841626500
Deferred revenue11613590145200448235
Debt 1,0971,001680921938955
Derivative instruments and hedges, liabilities     117122
Estimated litigation liability   5,6585,5715,4835,396
Due to related parties5,8385,7855,733    
Other liabilities   295   
Other undisclosed current liabilities147201218215490469428
Total current liabilities:7,2408,2798,4268,2458,5118,5488,057
Noncurrent Liabilities
Long-term debt and lease obligation 30643892147201254
Long-term debt, excluding current maturities 306401    
Operating lease, liability  3792147201254
Liabilities, other than long-term debt301315311327 117122
Deferred revenue301315311327   
Derivative instruments and hedges, liabilities     117122
Other undisclosed noncurrent liabilities    347103120
Total noncurrent liabilities:301621749419494421496
Total liabilities:7,5418,9009,1758,6649,0058,9698,553
Stockholders' equity
Stockholders' equity attributable to parent, including:5,5255,0204,7924,6751,635722181
Common stock326326326326326326326
Additional paid in capital7,3927,4677,5427,6177,6917,7667,841
Accumulated deficit(7,037)(7,536)(7,759)(7,870)(10,905)(11,813)(12,349)
Warrants and rights outstanding    505050
Other undisclosed stockholders' equity attributable to parent4,8434,7634,6834,6034,4734,3934,313
Total stockholders' equity:5,5255,0204,7924,6751,635722181
TOTAL LIABILITIES AND EQUITY:13,06513,91913,96713,34010,6409,6918,734

Income statement (P&L) ($ in thousands)

12/31/2020
Q3
9/30/2020
Q2
6/30/2020
Q1
3/31/2020
Q4
12/31/2019
Q3
9/30/2019
Q2
6/30/2019
Q1
Revenues2,6733,3362,9397,7624,7333,9123,306
Cost of revenue
(Cost of Goods and Services Sold)
(1,662)(1,970)(1,435)(3,802)(2,521)(2,039)(1,725)
Gross profit:1,0111,3671,5053,9602,2121,8741,582
Operating expenses(1,235)(1,025)(1,296)(1,428)(1,207)(1,242)(1,148)
Operating income (loss):(224)3422092,5321,006631434
Nonoperating income (expense)664(60)(68)(147)(98)(95)(176)
Interest and debt expense723(9)(10)28(85)(91)(81)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(723)910(28)859181
Income from continuing operations before income taxes:4402821402,385908536258
Income tax expense (benefit)59(59)(30)    
Other undisclosed income from continuing operations   2,649   
Net income attributable to parent:5002231115,035908536258
Preferred stock dividends and other adjustments     (80) 
Other undisclosed net income (loss) available to common stockholders, basic(80)(80)(80)333(80) (80)
Net income available to common stockholders, basic:420143315,367828456178
Convertible preferred dividends808080 808080
Other undisclosed net income (loss) available to common stockholders, diluted  (80)320  (80)
Net income available to common stockholders, diluted:500223315,687908536178

Comprehensive Income ($ in thousands)

12/31/2020
Q3
9/30/2020
Q2
6/30/2020
Q1
3/31/2020
Q4
12/31/2019
Q3
9/30/2019
Q2
6/30/2019
Q1
Net income:5002231115,035908536258
Comprehensive income, net of tax, attributable to parent:5002231115,035908536258

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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