TESSCO Technologies Inc. (TESS) recently reported record results for its fiscal second quarter. Earnings per share of 51 cents squashed the Zacks Consensus Estimate of 29 cents and topped the year-prior 45 cents.

Company Description

TESSCO Technologies provides integrated product and supply chain solutions that are necessary to design, build, run, maintain, and use wireless systems. The company offers mobile and fixed-wireless network infrastructure products, mobile devices/accessories and installation, test and maintenance equipment and supplies.

A Recent Accolade

TESSCO was recently named to Forbes’ elite list of America’s Best Small Companies for the third consecutive year.

Chairman, President and CEO Robert B. Barnhill commented, “It is an honor for TESSCO to be included on the Forbes’ Best Small Companies in America listing for the third consecutive year. We believe this recognition demonstrates our enduring commitment to the continuous growth of shareowner value.”

A Record Quarter

The company recently reported record results for its fiscal second quarter. Earnings per share of 51 cents squashed the Zacks Consensus Estimate of 29 cents and topped the year-prior 45 cents. Revenues of $133 million slipped from last year’s $143.8 million.

Management said the convergence of wireless and internet technologies is producing new applications, offerings and customers for TESSCO. As a result, the number of monthly purchasing customers and earnings per share rose to historic levels in the second quarter, operating income margin reached a seven-year high and the balance sheet strengthened.

Solid Income

TESSCO also declared a dividend of 10 cents per share in its second-quarter report. The dividend was paid out on November 25.

The company offers an industry-leading dividend yield of 3%.

Higher Forecasts

TESSCO hiked its fiscal year 2010 earnings guidance to a range of $1.45 to $1.70 per share.

Analysts polled by Zacks are in agreement, raising estimates to $1.58 per share from $1.31 over the past 60 days.

Zacks Investment Research

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