Tel Instrument Electronics Corp (TIKK) Financial Statements (2024 and earlier)

Company Profile

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

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q2
6/30/2023
Q1
3/31/2023
Q4
12/31/2022
Q3
9/30/2022
Q2
6/30/2022
Q1
3/31/2022
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,5323,8393,2933,4364,2504,950
Cash and cash equivalents4,5323,8393,2933,4364,2504,950
Restricted cash and investments 2,0112,0112,0112,0112,0112,011
Receivables1,2511,5451,9621,4361,3721,049
Inventory, net of allowances, customer advances and progress billings3,6073,5863,3112,9342,6962,820
Inventory3,6073,5863,3112,9342,6962,820
Prepaid expense204149251   
Deferred costs282525   
Other undisclosed current assets    334399244
Total current assets:11,63111,15510,85310,15110,72811,074
Noncurrent Assets
Operating lease, right-of-use asset1,4771,5271,5751,6251,6731,721
Property, plant and equipment87858296111115
Deferred income tax assets2,5472,6282,5842,6882,5622,500
Other noncurrent assets353535353535
Total noncurrent assets:4,1464,2754,2764,4444,3814,371
TOTAL ASSETS:15,77815,43015,12914,59615,10915,445
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities7844801,0511,2511,363991
Employee-related liabilities293425411
Accounts payable313323563481167406
Accrued liabilities470158488476771174
Deferred revenue107123168118171120
Debt690690    
Estimated litigation liability 6,4316,361   6,097
Due to related parties6,2916,2206,149 
Other liabilities  158   174
Other undisclosed current liabilities204284200(95)(229)20
Total current liabilities:8,2168,0967,7107,4947,4547,403
Noncurrent Liabilities
Long-term debt and lease obligation:    1,4261,4771,527
Liabilities, other than long-term debt1,4811,4981,571226258289
Deferred revenue157174196226258289
Other liabilities51     
Operating lease, liability1,2731,3241,3751,4261,4771,527
Other undisclosed noncurrent liabilities  53    
Total noncurrent liabilities:1,4811,5521,5711,6531,7351,816
Total liabilities:9,6979,6489,2819,1469,1899,218
Equity
Equity, attributable to parent, including:6,0805,7825,8485,4495,9206,227
Common stock326326326326326326
Additional paid in capital6,6456,7226,7976,8716,9457,018
Accumulated deficit(6,054)(6,349)(6,278)(6,671)(6,193)(5,960)
Other undisclosed equity, attributable to parent5,1635,0835,0034,9234,8434,843
Total equity:6,0805,7825,8485,4495,9206,227
TOTAL LIABILITIES AND EQUITY:15,77815,43015,12914,59615,10915,445

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

9/30/2023
Q2
6/30/2023
Q1
3/31/2023
Q4
12/31/2022
Q3
9/30/2022
Q2
6/30/2022
Q1
3/31/2022
Q4
Revenues2,867(2,284)2,3282,0132,2543,984
Other income   628   
Cost of revenue
(Cost of Goods and Services Sold)
(1,572)242(1,435)(1,459)(1,419)(2,101)
Gross profit:1,295(2,042)8945538351,883
Operating expenses(874)(300)(960)(1,089)(1,079)(1,273)
Operating income (loss):420(2,342)(66)(535)(244)610
Nonoperating income (expense)(44)(223)563(69)(51)12
Investment income, nonoperating39 621(2)
Interest and debt expense(13)(723)(71)(71)(52) 
Other undisclosed income from continuing operations before equity method investments, income taxes      723
Income (loss) from continuing operations before equity method investments, income taxes:362(3,288)426(675)(347)1,345
Other undisclosed income (loss) from continuing operations before income taxes13723717152(723)
Income (loss) from continuing operations before income taxes:376(2,565)497(604)(295)622
Income tax expense (benefit)(81)407(104)12762(146)
Income (loss) from continuing operations:295(2,158)393(477)(233)476
Income (loss) before gain (loss) on sale of properties:(477)(233)476
Net income (loss) attributable to parent:295(2,158)393(477)(233)476
Preferred stock dividends and other adjustments(80)(80)(80)(80)(80) 
Other undisclosed net loss available to common stockholders, basic      (80)
Net income (loss) available to common stockholders, basic:215(2,238)313(557)(313)396
Convertible preferred dividends 80 80  80
Other undisclosed net loss available to common stockholders, diluted  (240)    
Net income (loss) available to common stockholders, diluted:295(2,478)393(557)(313)476

Comprehensive Income ($ in thousands)

9/30/2023
Q2
6/30/2023
Q1
3/31/2023
Q4
12/31/2022
Q3
9/30/2022
Q2
6/30/2022
Q1
3/31/2022
Q4
Net income (loss):295(2,158)393(477)(233)476
Comprehensive income (loss), net of tax, attributable to parent:295(2,158)393(477)(233)476

Statements Sources

The financial statements are based on the Company's filings with 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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