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
TTM
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
3/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,9423,126586308288973186
Cash and cash equivalents2,9423,126586308288973186
Restricted cash and investments2,0112,0092,0052,001   
Receivables1,8811,4122,1961,0951,5561,4541,625
Inventory, net of allowances, customer advances and progress billings2,9313,0932,9334,2704,2084,6794,032
Inventory2,9313,0932,9334,2704,2084,6794,032
Deferred costs      5
Other undisclosed current assets2393822751481897071,345
Total current assets:10,00410,0217,9957,8216,2417,8137,194
Noncurrent Assets
Operating lease, right-of-use asset147307
Property, plant and equipment230264236181161194271
Deferred costs      9
Deferred income tax assets2,6492,713
Other noncurrent assets35353535343732
Other undisclosed noncurrent assets  6464 2,0652,378
Total noncurrent assets:3,0613,3183352791952,2962,689
TOTAL ASSETS:13,06513,3408,3308,1016,43610,1089,883
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,1391,2531,4532,9971,9602,5774,005
Accounts payable6817401,0582,3081,4281,6862,812
Accrued liabilities   241  595
Employee-related liabilities458513394448527837594
Taxes payable    454 
Interest and dividends payable      3
Deferred revenue116145
Debt 6808079298428405
Derivative instruments and hedges, liabilities   95   
Estimated litigation liability 5,6585,3125,0602,800  
Due to related parties5,838 33146213170
Deferred revenue and credits 1244919
Other liabilities 295432241599502595
Other undisclosed current liabilities147215141724200 (599)
Total current liabilities:7,2408,2458,1489,1576,0263,7694,595
Noncurrent Liabilities
Long-term debt and lease obligation 92 716325713
Long-term debt, excluding current maturities    2305709
Capital lease obligations 714215
Operating lease, liability 92
Liabilities, other than long-term debt301327  4481,342936
Deferred revenue and credits 353173134
Deferred revenue301327
Due to related parties     25250
Other liabilities     833
Derivative instruments and hedges, liabilities    951,136519
Other undisclosed noncurrent liabilities  265338   
Total noncurrent liabilities:3014192653454641,6671,649
Total liabilities:7,5418,6648,4129,5026,4905,4366,244
Stockholders' equity
Stockholders' equity attributable to parent, including:5,5254,675(83)(1,401)(54)4,6723,640
Preferred stock   3,036   
Common stock326326326326326326326
Additional paid in capital7,3927,6177,9158,0478,1078,0758,046
Accumulated deficit(7,037)(7,870)(12,607)(12,810)(8,487)(3,728)(4,732)
Warrants and rights outstanding  50    
Other undisclosed stockholders' equity attributable to parent4,8434,6034,233    
Total stockholders' equity:5,5254,675(83)(1,401)(54)4,6723,640
TOTAL LIABILITIES AND EQUITY:13,06513,3408,3308,1016,43610,1089,883

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

12/31/2020
TTM
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
3/31/2015
Revenues16,71115,77512,11610,02518,74524,80518,196
Revenue, net 18,74524,80518,196
Cost of revenue(8,868)(8,365)(6,699)(6,895)(12,061)(16,819)(12,780)
Cost of goods and services sold(8,868)(8,365)(6,699)(6,895)(12,061)(16,819)(12,755)
Other undisclosed gross profit      24
Gross profit:7,8427,4105,4173,1306,6847,9865,441
Operating expenses(4,984)(4,857)(4,762)(7,536)(9,056)(5,406)(5,110)
Operating income (loss):2,8592,552655(4,407)(2,372)2,580330
Nonoperating income (expense)389(465)(452)21257(724)(690)
Interest and debt expense731(56)(101)(60)(40)(58)(334)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(731)56101604058334
Income (loss) from continuing operations before income taxes:3,2482,087203(4,386)(2,115)1,856(360)
Income tax expense (benefit)(29)2,649 64(2,644)(852)79
Other undisclosed income from continuing operations2,649      
Net income (loss) attributable to parent:5,8684,736203(4,322)(4,759)1,004(280)
Preferred stock dividends and other adjustments  (420)(91)   
Other undisclosed net income (loss) available to common stockholders, basic93(320)(313)    
Net income (loss) available to common stockholders, basic:5,9614,416(530)(4,413)(4,759)1,004(280)
Convertible preferred dividends24032031391   
Dilutive securities, effect on basic earnings per share    (103)  
Other undisclosed net income (loss) available to common stockholders, diluted240 (313)(91)   
Net income (loss) available to common stockholders, diluted:6,4414,736(530)(4,413)(4,862)1,004(280)

Comprehensive Income ($ in thousands)

12/31/2020
TTM
3/31/2020
3/31/2019
3/31/2018
3/31/2017
3/31/2016
3/31/2015
Net income (loss):5,8684,736203(4,322)(4,759)1,004(280)
Comprehensive income (loss), net of tax, attributable to parent:5,8684,736203(4,322)(4,759)1,004(280)

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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