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TESSCO Technologies fiscal Q3 profit climbs 77.5% YOY

TESSCO Technologies Inc. said its normalized net income for the fiscal third quarter ended Dec. 27, 2015, amounted to 35 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS climbed 78.4% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.9 million, a gain of 77.5% from $1.6 million in the prior-year period.

The normalized profit margin climbed to 2.1% from 1.2% in the year-earlier period.

Total revenue climbed on an annual basis to $139.5 million from $135.2 million, and total operating expenses rose on an annual basis to $134.8 million from $132.5 million.

Reported net income rose 74.1% from the prior-year period to $2.9 million, or 35 cents per share, from $1.7 million, or 20 cents per share.