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TESS Tessco

TESSCO Technologies, Inc. is a technology distributor, manufacturer, and solutions provider serving commercial and retail customers in the wireless infrastructure, and mobile device accessories markets.It operates through Commercial and Retail business segments. The Commercial segment consists of public carriers, government, private system operators, and value-added resellers. The Retail segment is comprised of the market which includes retailers, independent dealer agent, and carriers. The company was founded by Robert B. Barnhill Jr. in 1982 and is headquartered in Hunt Valley, MD.

Company profile

TESS stock data

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Calendar

5 Feb 21
13 Apr 21
28 Mar 22
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 20 Mar 19 Mar 18 Mar 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Tessco earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 234.2K 234.2K 234.2K 234.2K 234.2K 234.2K
Cash burn (monthly) (positive/no burn) (positive/no burn) 2.15M 2.61M 278.03K (positive/no burn)
Cash used (since last report) n/a n/a 7.67M 9.34M 993.52K n/a
Cash remaining n/a n/a -7.44M -9.1M -759.32K n/a
Runway (months of cash) n/a n/a -3.5 -3.5 -2.7 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Mar 21 Gaffney Paul J Common Stock Buy Aquire P No No 7.03 1,000 7.03K 21,403
18 Feb 21 Kathleen McLean Common Stock Buy Aquire P No No 8.25 666 5.49K 1,426
16 Feb 21 Kathleen McLean Common Stock Buy Aquire P No No 8.25 760 6.27K 760
10 Feb 21 Gaffney Paul J Common Stock Buy Aquire P No No 8.29 1,000 8.29K 20,403
8 Feb 21 Gaffney Paul J Common Stock Buy Aquire P No No 8.29 1,000 8.29K 19,403
1 Feb 21 Joseph Cawley Common Stock Sell Dispose S No No 7.68 2,761 21.2K 4,250
22 Dec 20 Lakeview Investment Group & Trading Common Stock Buy Aquire P No No 6.34 5,000 31.7K 1,031,591
21 Dec 20 Lakeview Investment Group & Trading Common Stock Buy Aquire P No No 6.36 6,000 38.16K 1,026,591
18 Dec 20 Lakeview Investment Group & Trading Common Stock Buy Aquire P No No 5.55 19,100 106.01K 1,011,591

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

54.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 34 32 +6.3%
Opened positions 3 2 +50.0%
Closed positions 1 10 -90.0%
Increased positions 6 5 +20.0%
Reduced positions 20 22 -9.1%
13F shares
Current Prev Q Change
Total value 31.09M 24.73M +25.7%
Total shares 4.83M 4.22M +14.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Lakeview Investment Group & Trading 1.03M $6.27M NEW
Capital Management 622.62K $3.89M -38.6%
BLK Blackrock 600.77K $3.75M -1.6%
Dimensional Fund Advisors 527.77K $3.29M -3.9%
Renaissance Technologies 502.4K $3.14M +13.7%
Tieton Capital Management 443.07K $2.77M -3.5%
Vanguard 292.78K $1.83M 0.0%
Invenomic Capital Management 204K $1.27M -16.2%
Bridgeway Capital Management 85.93K $536K -15.4%
Brown Advisory 81.59K $509K NEW
Largest transactions
Shares Bought/sold Change
Lakeview Investment Group & Trading 1.03M +1.03M NEW
Capital Management 622.62K -391.75K -38.6%
Brown Advisory 81.59K +81.59K NEW
Renaissance Technologies 502.4K +60.4K +13.7%
Invenomic Capital Management 204K -39.38K -16.2%
Dimensional Fund Advisors 527.77K -21.63K -3.9%
Tieton Capital Management 443.07K -15.85K -3.5%
Bridgeway Capital Management 85.93K -15.6K -15.4%
Millennium Management 12.77K -12.76K -50.0%
RY Royal Bank Of Canada 15.25K -12.21K -44.5%

Financial report summary

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Competition
Tech Data
Risks
  • We face risks related to adverse global or national economic conditions or events (including health epidemics and trade wars and other outbreaks and events beyond our control) that could significantly disrupt our business and adversely affect our business, financial position and results of operations.
  • We face significant competition in the wireless communications distribution industry.
  • We typically purchase and sell our products and services on the basis of individual sales or purchase orders, and even in those cases where we have standing agreements or arrangements with our customers and suppliers, those agreements and arrangements typically contain no purchase or sale obligations and are otherwise terminable by either party upon several months or otherwise short notice.
  • The loss or any change in the business habits of key customers or suppliers may have a material adverse effect on our financial position and results of operations.
  • Changes in customer or product mix could cause our gross margin percentage to decline.
  • Our business depends on the continued tendency of wireless equipment manufacturers and network operators to outsource aspects of their business to us in the future.
  • We require substantial capital to operate, and the inability to obtain financing on favorable terms will adversely impact our business, financial position and results of operations.
  • Our ability to maintain and borrow under our revolving credit agreement could be constrained by the level of eligible receivables and product inventory and by any failure to meet certain financial and other covenants in our revolving credit agreement.
  • If we fail to meet our payment or other obligations under our secured revolving credit facility, our lenders could foreclose on, and acquire control of, a significant portion of our assets.
  • Weakness in the global economic environment may have significant effects on our customers and suppliers that could result in material adverse effects on our business, operating results, and stock price.
  • We may be unable to successfully execute our merchandising and marketing strategic initiatives.
  • The telecommunications products marketplace is dynamic and challenging because of the continued introduction of new products and services.
  • Consolidation among wireless service carriers could result in the loss of significant customers.
  • The failure of our information technology or telecommunication systems, or our inability to maintain or upgrade our information technology or telecommunication systems without incident or delay, or undue cost, could have a material adverse effect on our business, financial position and results of operations.
  • We, like most businesses, are subject to risk of cyber-attack and incur significant costs in efforts to defend these attacks.
  • We depend heavily on e-commerce, and website security breaches or internet disruptions could have a material adverse effect on our business, financial position and results of operations.
  • System security breaches or data protection breaches could adversely disrupt our business and harm our reputation, financial position and results of operations.
  • The inability to hire or retain certain key professionals, management and staff could adversely affect our business, financial condition and results of operations.
  • The damage or destruction of any of our principal distribution or administrative facilities could materially adversely impact our business, financial position and results of operations.
  • We depend on third parties to manufacture products that we distribute and, accordingly, rely on their quality control procedures.
  • We are subject to potential declines in inventory value.
  • Our future operating results depend on our ability to purchase a sufficient amount of finished goods and bulk inventory to meet the demands of our customers.
  • If our business does not perform well, or if we otherwise experience a decline in the fair values of a portion or all of our business, we may be required to recognize impairments of our intangible or other long-lived assets, which could adversely affect our results of operations or financial condition.
  • We primarily rely on trademark filings and confidentiality agreements to protect our intellectual property rights.
  • We offer credit to our customers and, therefore, are subject to significant credit risk.
  • We may explore additional growth through acquisitions.
  • Risks associated with the foreign suppliers from whom our products are sourced could adversely affect our financial performance.
  • We rely on independent shipping companies to deliver inventory to us and to ship products to customers.
  • Changes in accounting rules could have a material adverse impact on our results of operations.
  • Changes in income tax and other regulatory legislation.
  • We may be subject to litigation.
  • We may incur product liability claims which could be costly and could harm our reputation.
  • Our expanding offering of private labeled products may have a negative impact on our relationship with our manufacturer partners.
  • A significant portion of our product offerings, including a majority of our private label Ventev products and products we acquire from our suppliers, are manufactured in foreign countries, making the price and availability of these products susceptible to international trade risks and other international conditions.
  • Legislative or regulatory action could be taken that could limit our ability to use certain foreign suppliers to supply us with products.
  • Claims that our products infringe the proprietary rights of others could harm our business and cause us to incur significant costs.
  • A significant portion of our voting stock is controlled by our executive officers, directors and beneficial owners of 5% or more of our common stock.
  • Our quarterly financial results may fluctuate, which could lead to volatility in our stock price.
  • Without approval of our Board of Directors, it may be difficult for a third party to acquire control of the Company. This could affect the price of our common stock.
  • Potential uncertainty resulting from unsolicited acquisition proposals and related matters may adversely affect our business.
Management Discussion
  • Revenues. Revenue for fiscal year 2020 decreased by 11.0% as compared to fiscal year 2019. In the commercial segment, revenue decreased by 2.4%. Revenue in our public carrier market and value-added resellers and integrators market decreased by 0.4% and 3.6%, respectively. The decline in the commercial segment was primarily because we are not yet realizing the full benefits of our sales strategy refinements in the value-added resellers and integrators market. Revenues in our retail segment decreased by 30.1%. This decrease was largely driven by a combination of continued overall softness in our retail segment, significantly lower revenues from one of our more significant retail customers following its change in business model and subsequent transition of its business elsewhere, and the impact of COVID-19 in the fourth quarter of fiscal year 2020 that affected both of our business segments. We expect the challenges we have been facing in our retail segment to continue for the foreseeable future. We also expect the challenges we have been facing in our commercial segment to continue for the foreseeable future, but to a much lesser extent.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: Additionally, ASC, attributable, complex, composition, departing, disposal, diverse, divest, eliminating, entitled, gain, gaining, guidance, half, indemnify, indemnity, intraperiod, long, methodology, overhead, resold, scope, separately, shareholder, Simplifying, transferred, type, underlying, warranty
Removed: broadband, cellular, dealer, expanded, independent, level, referred, supplemental, transition, vest

Patents

GRANT
Utility
Outdoor Wi-Fi bollard
4 Jan 21
An outdoor Wi-Fi bollard includes a bollard housing having a vertical tube with a vertical wall and top and bottom openings and a cap disposed over the top opening; a base disposed at the bottom opening; first and second vertical members inside the housing and extending adjacent the wall from the base to the top opening, the first and second vertical members including first and second lower ends, respectively, operably attached to the base; and a first brace attached to the first and second upper ends, the first and second vertical members including first and second upper ends, respectively, operably attached to the first brace.
GRANT
Utility
Access point hanger assembly for attachment to a suspended ceiling T-bar
14 Sep 20
A hanger assembly for clamping onto a T-bar of a suspended ceiling, the T-bar including a flange portion and a web portion, the hanger assembly including a first bracket for attaching to an access point, the first bracket including a first horizontal wall for hanging onto one section of the flange on one side of the web portion; a second bracket slidable with respect to the first bracket, the second bracket including a second horizontal wall for hanging onto another section of the flange portion on another side of the web portion; a first guideway and a second guideway attached to the first bracket; the second bracket is slidable toward or away from the first bracket along the first and second guideways; and a first spring to urge the second bracket toward the first bracket.
GRANT
Design
Dual charger for simultaneous charging of consumer electronic devices
15 Jun 20
Inventors: Andrew Benjamin Cushing, Nicole Christine Smolenski, Bradley Jeremiah Cox, Cheryl Scalzo Jenner