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Tessco (TESS)

TESSCO Technologies, Inc. is a value-added technology distributor, manufacturer, and solutions provider serving commercial customers in the wireless infrastructure ecosystem. The Company was founded more than 30 years ago with a commitment to deliver industry-leading products, knowledge, solutions, and customer service. Tessco supplies products the industry's top manufacturers in mobile communications, Wi-Fi, Internet of Things ('IoT'), wireless backhaul, and more. Tessco is a single source for outstanding customer experience, expert knowledge, and complete end-to-end solutions for the wireless industry.

Company profile

Ticker
TESS
Exchange
NASDAQ
Website
www.tessco.com
CEO
Sandip Mukerjee
Employees
Incorporated
Delaware
Location
Maryland
Fiscal year end
Mar 26
Sector
Manufacturing > Telephone Apparatus Manufacturing
Industry (SIC)
Wholesale - Electronic Parts & Equipment, NEC
TE Connectivity Ltd - Registered Shares • Arrow Electronics • VOXX International • Avnet • Richardson Electronics • Ituran Location And Control • Eaco • Orbital Infrastructure • Universal Security Instruments • Simply ...
SEC CIK
0000927355
Corporate docs
Subsidiaries
TESSCO Incorporated • Wireless Solutions Incorporated • TESSCO Service Solutions, Inc. • TESSCO Communications Incorporated • TESSCO Financial Corporation • TESSCO Business Services, LLC • TESSCO Integrated Solutions, LLC • GW Service Solutions, Inc. • TCPM, Inc. • TESSCO Reno Holding, LLC ...
IRS number
520729657

TESS stock data

News

From Benzinga Pro
Tessco Technologies Q1 EPS $(0.06) Up From $(0.25) YoY, Sales $112.20M Beat $107.57M Estimate
26 Jul 22
Tessco Technologies (NASDAQ:TESS) reported quarterly losses of $(0.06) per share. This is a 76 percent increase over losses of $(0.25) per share from the same period last year. The company reported quarterly sales of
Earnings Scheduled For July 26, 2022
26 Jul 22
Companies Reporting Before The Bell • General Motors (NYSE:GM) is likely to report quarterly earnings at $1.30 per share on revenue of $34.59 billion.
12 Information Technology Stocks Moving In Wednesday's Intraday Session
25 May 22
50 Stocks Moving In Wednesday's Mid-Day Session
25 May 22

Press releases

From Benzinga Pro
TESSCO Reports First-Quarter Fiscal 2023 Financial Results
26 Jul 22
Sales Up 7% Year Over Year to $112 Million, Sales Bookings Reach Quarterly Record $137 Million Sales Backlog Grows to $99 Million, Up 32% Sequentially From Q4 2022 Company Reiterates Full-year Fiscal 2023 Guidance,
TESSCO Technologies Schedules First-Quarter Fiscal 2023 Earnings Release and Conference Call
19 Jul 22
TESSCO Technologies Incorporated (NASDAQ:TESS), a leading value-added distributor and solutions provider for the wireless industry, will report financial results for its fiscal first quarter ended June 26, 2022 after

Calendar

28 Jul 22
13 Aug 22
26 Mar 23

Financial summary

Financial statements Chart TESS financial data
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Mar 22 Mar 21 Mar 20 Mar 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 3.01M 3.01M 3.01M 3.01M 3.01M 3.01M
Cash burn (monthly) (no burn) (no burn) 169.13K 215.46K 401.5K (no burn)
Cash used (since last report) n/a n/a 268.33K 341.82K 636.98K n/a
Cash remaining n/a n/a 2.74M 2.66M 2.37M n/a
Runway (months of cash) n/a n/a 16.2 12.4 5.9 n/a

Beta Read what these cash burn values mean

Financial data from Tessco earnings reports.

Recent insider trades

TESS insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
6 Jun 22 J Timothy Bryan Common Stock Grant Acquire A No No 0 8,644 0 41,610
6 Jun 22 J Timothy Bryan Common Stock Grant Acquire A No No 0 5,085 0 32,966
6 Jun 22 J Timothy Bryan Common Stock Grant Acquire A No No 0 3,000 0 27,881
6 Jun 22 Kathleen McLean Common Stock Grant Acquire A No No 0 6,949 0 30,282
6 Jun 22 Kathleen McLean Common Stock Grant Acquire A No No 0 5,932 0 23,333
6 Jun 22 Kathleen McLean Common Stock Grant Acquire A No No 0 3,000 0 17,401
6 Jun 22 Matthew W Brewer Common Stock Grant Acquire A No No 0 5,791 0 12,605
6 Jun 22 Matthew W Brewer Common Stock Grant Acquire A No No 0 3,814 0 6,814
6 Jun 22 Matthew W Brewer Common Stock Grant Acquire A No No 0 3,000 0 3,000
6 Jun 22 Campbell Steven T Common Stock Grant Acquire A No No 0 6,949 0 28,521
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

TESS institutional ownership history Ownership history
1.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 30 32 -6.3%
Opened positions 2 8 -75.0%
Closed positions 4 3 +33.3%
Increased positions 9 8 +12.5%
Reduced positions 11 8 +37.5%
13F shares Current Prev Q Change
Total value 28.57M 23.65M +20.8%
Total shares 4.64M 4.92M -5.7%
Total puts 0 0
Total calls 0 0
Total put/call ratio – – –
Largest owners Shares Value Change
Lakeview Investment Group & Trading 1.33M $7.48M 0.0%
Capital Management 728.35K $4.4M +4.2%
Dimensional Fund Advisors 401.57K $2.43M -5.9%
Renaissance Technologies 398.85K $2.41M -10.8%
BLK Blackrock 392.74K $2.37M +0.7%
Tieton Capital Management 379.56K $2.29M +0.0%
Vanguard 185.3K $1.12M -36.8%
Employees Retirement System of Texas 119.34K $721K +39.8%
Moors & Cabot 115.02K $695K -10.3%
Bridgeway Capital Management 95.43K $576K -20.0%
Largest transactions Shares Bought/sold Change
Vanguard 185.3K -107.79K -36.8%
Renaissance Technologies 398.85K -48.5K -10.8%
Two Sigma Investments 43.76K -47.49K -52.0%
Cetera Advisor Networks 0 -41.94K EXIT
Employees Retirement System of Texas 119.34K +34K +39.8%
Capital Management 728.35K +29.36K +4.2%
Two Sigma Advisers 49.3K -25.8K -34.4%
Dimensional Fund Advisors 401.57K -24.97K -5.9%
Bridgeway Capital Management 95.43K -23.81K -20.0%
Moors & Cabot 115.02K -13.15K -10.3%
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

?
Competition
Tech Data
Management Discussion
  • As noted above, we exited our Retail business during fiscal year 2021 and now report activity from that Retail business as discontinued operations. The analysis below reflects activity and results from continuing operations only. Please refer to our Form 10-K for the fiscal year ended March 28, 2021 for a discussion of fiscal year ended March 29, 2020.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: arrangement, Cap, CODM, cycle, Decision, distributor, dividend, employee, Eurodollar, forma, headcount, immaterial, impracticable, inflationary, labor, Lakeview, level, lifted, lockbox, Maker, principal, pro, promotion, proprietary, recruiting, redeem, regulation, repurchase, satisfaction, summary, superseded, talent, temporary, tied, travel, withholding
Removed: allocation, ASC, assigned, bad, calculating, continually, eliminating, environment, evaluate, exiting, expect, extension, guidance, improving, intraperiod, licensed, occurred, pandemic, portfolio, present, prospective, public, receive, received, Simplifying, trademark, tradename, transition
From filing 10-Q 2023 Q1
Financial reports
View all
10-Q
2023 Q1
Quarterly report
28 Jul 22
10-K
2022 FY
Annual report
26 May 22
10-Q
2022 Q3
Quarterly report
4 Feb 22
10-Q
2022 Q2
Quarterly report
29 Oct 21
10-Q
2022 Q1
Quarterly report
5 Aug 21
10-K
2021 FY
Annual report
11 Jun 21
10-Q
2021 Q3
Quarterly report
5 Feb 21
10-Q
2021 Q2
Quarterly report
6 Nov 20
10-Q
2021 Q1
Quarterly report
6 Aug 20
10-K
2020 FY
Annual report
5 Jun 20
Current reports
View all
8-K
Submission of Matters to a Vote of Security Holders
1 Aug 22
8-K
TESSCO Reports First-Quarter Fiscal 2023 Financial Results
26 Jul 22
8-K
Entry into a Material Definitive Agreement
1 Jun 22
8-K
TESSCO Reports Fourth-Quarter Fiscal Year 2022 Financial Results
10 May 22
8-K
Departure of Directors or Certain Officers
28 Mar 22
8-K
TESSCO Reports Third-Quarter Fiscal 2022 Financial Results
3 Feb 22
8-K
Entry into a Material Definitive Agreement
6 Jan 22
8-K
Regulation FD Disclosure
14 Dec 21
8-K
TESSCO Reports Second-Quarter Fiscal 2022 Financial Results
27 Oct 21
8-K
Departure of Directors or Certain Officers
25 Aug 21
Registration and prospectus
View all
S-8
Registration of securities for employees
15 Aug 19
S-8
Registration of securities for employees
3 Nov 16
S-8
Registration of securities for employees
28 Feb 12
8-A12B/A
Registration of securities on exchange (amended)
25 Apr 10
S-8
Registration of securities for employees
23 Apr 09
8-A12B
Registration of securities on exchange
31 Jan 08
S-8
Registration of securities for employees
11 Aug 04
SC TO-I/A
Issuer tender offer statement (amended)
12 Jun 03
SC TO-I
Issuer tender offer statement
6 May 03
SC TO-C
Information about tender offer
28 Apr 03
Proxies
View all
DEFA14A
Additional proxy soliciting materials
17 Jun 22
DEF 14A
Definitive proxy
17 Jun 22
DEFA14A
Additional proxy soliciting materials
7 Jul 21
DEFA14A
Additional proxy soliciting materials
17 Jun 21
DEF 14A
Definitive proxy
17 Jun 21
DFAN14A
Additional proxy materials by non-management
7 Dec 20
DEFA14A
Additional proxy soliciting materials
7 Dec 20
DFAN14A
Additional proxy materials by non-management
4 Dec 20
DFAN14A
Additional proxy materials by non-management
4 Dec 20
DEFA14A
Additional proxy soliciting materials
3 Dec 20
Other
View all
SD
Conflict minerals disclosure
31 May 22
SD
Conflict minerals disclosure
28 May 21
UPLOAD
Letter from SEC
5 Nov 20
UPLOAD
Letter from SEC
27 Oct 20
UPLOAD
Letter from SEC
26 Oct 20
UPLOAD
Letter from SEC
20 Oct 20
CORRESP
Correspondence with SEC
12 Oct 20
UPLOAD
Letter from SEC
12 Oct 20
UPLOAD
Letter from SEC
6 Oct 20
UPLOAD
Letter from SEC
1 Oct 20
Ownership
View all
4
TESSCO / Matthew W Brewer ownership change
8 Jun 22
4
TESSCO / Steven T Campbell ownership change
8 Jun 22
4
TESSCO / VERNON IRVIN ownership change
8 Jun 22
4
TESSCO / Stephanie Dismore ownership change
8 Jun 22
4
TESSCO / J TIMOTHY BRYAN ownership change
8 Jun 22
4
TESSCO / Kathleen McLean ownership change
8 Jun 22
SC 13G/A
TESSCO / CAPITAL MANAGEMENT ownership change
8 Jun 22
4
TESSCO / Tammy Ridgley ownership change
1 Jun 22
4
TESSCO / Thad Lowe ownership change
1 Jun 22
4
TESSCO / Sandip Mukerjee ownership change
1 Jun 22

Patents

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.
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.
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

Transcripts

View all
2023 Q1
Earnings call transcript
30 Jul 22
2022 Q4
Earnings call transcript
11 May 22
2022 Q3
Earnings call transcript
4 Feb 22
2022 Q2
Earnings call transcript
29 Oct 21
2022 Q1
Earnings call transcript
28 Jul 21
2021 Q4
Earnings call transcript
11 May 21
2021 Q3
Earnings call transcript
2 Feb 21
2021 Q2
Earnings call transcript
31 Oct 20
2021 Q1
Earnings call transcript
28 Jul 20
2020 Q4
Earnings call transcript
13 May 20

Reddit threads

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