29.12.2020 16:16:08
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Stock Alert: Technical Communications Corporation Soars 130%
(RTTNews) - Shares of communications security devices maker Technical Communications Corporation (TCCO) are surging more than 130% Tuesday morning despite wider net loss in the fiscal year ended September 26, 2020.
The stock touched a new high of $13 this morning.
For the full-year, the company reported a net loss of $911,000, or $0.49 per share compared with net income of $631,000, or $0.34 per share in the same quarter a year ago.
Revenue for the year was $4.11 million compared with $7.02 million for the same period a year ago.
"The COVID-19 pandemic continues to delay several projects that are in the pipeline, and those delays continue although we have experienced some limited progress toward the resumption of the procurement process," said Carl H. Guild Jr., President and CEO of Technical Communications Corporation.
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