TeleCommunication Systems Reports Record Third Quarter 2008 Results
ANNAPOLIS, MD–(Marketwire - October 30, 2008) - TeleCommunication Systems, Inc. (TCS)
(NASDAQ: TSYS), a leading provider of mission-critical wireless
communications, reported results for the third quarter ended September 30,
2008.
Third Quarter 2008 Results
-- Revenue was a record $56.5 million, an increase of 29% from $43.9
million in the previous quarter and up 50% from $37.6 million in the third
quarter of 2007. This represents the company's third consecutive quarter of
record revenue.
-- GAAP net income was $2.8 million or $0.06 per diluted share, compared
to GAAP net income (excluding an $8.0 million gain from a second quarter
patent sale) of $3.9 million or $0.09 per diluted share in the previous
quarter, and $1.8 million or $0.04 per diluted share in the third quarter
of 2007.
-- EBITDA (Earnings before Interest, Taxes, Depreciation and
Amortization, in
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Published in Market News, October 30th, 2008
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