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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Tel-Instrument Electronics Corp. Receives $641,172 Mode 5 Test Set Order for the U.S. Navy

February 22, 2019

EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--Feb 22, 2019--Tel-Instrument Electronics Corp. (“Tel”, “Tel-Instrument” or the “Company”) (NYSE American: TIK), a leading designer and manufacturer of avionics test and measurement solutions, today reported that it received a contract award totaling $641,172 from the U.S. Navy for Mode 5 test sets.

Jeff O’Hara, Tel’s President and CEO said, “We are pleased to announce this follow-on test set order from the U.S. Navy for our AN/USM-719 Mode 5 test set. This order continues our strong performance and further improves our back-log heading into next fiscal year. We continue to work on other major domestic and international orders which we hope to secure over the next few months.”

About Tel-Instrument Electronics Corp.

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com.

This press release includes statements that are not historical in nature and may be characterized as “forward-looking statements,” including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company’s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company’s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company’s previous filings with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the “Act”) protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190222005031/en/

CONTACT: Joseph P. Macaluso

Tel-Instrument Electronics Corp.

(201) 933-1600

KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: TRANSPORT AIR MARITIME MANUFACTURING AEROSPACE DEFENSE CONTRACTS OTHER DEFENSE

SOURCE: Tel-Instrument Electronics Corp.

Copyright Business Wire 2019.

PUB: 02/22/2019 08:30 AM/DISC: 02/22/2019 08:30 AM

http://www.businesswire.com/news/home/20190222005031/en