Tessco: Fiscal 4Q Earnings Snapshot

HUNT VALLEY, Md. (AP) _ Tessco Technologies Inc. (TESS) on Tuesday reported a fiscal fourth-quarter loss of $14.1 million, after reporting a profit in the same period a year earlier.

The Hunt Valley, Maryland-based company said it had a loss of $1.65 per share. Losses, adjusted for asset impairment costs, came to 59 cents per share.

The wireless communications company posted revenue of $128.2 million in the period.

For the year, the company reported a loss of $21.6 million, or $2.53 per share, swinging to a loss in the period. Revenue was reported as $540.3 million.

Tessco shares have declined 43% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.40, a decrease of 60% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TESS at https://www.zacks.com/ap/TESS

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