TCS Reports 19% Jump in 4Q Revenue, 30% Bump in Gov’t Segment; Maurice Tose Comments

teleCommunication-systemsTeleCommunication Systems (NASDAQ: TSYS) has announced financial results for its fourth quarter and full 2014 fiscal year ended Dec. 31, 2014.

The Annapolis, Md.-based wireless technology contractor said its revenue for the quarter grew 19 percent from the prior year period to $93.3 million and total revenue for the year was $359.9 million.

Maurice Tose
Maurice Tose

Revenue for the quarter in the company’s government segment was up 30 percent to $47.6 million, an increase the company attributed to higher sales volume.

Maurice Tose, TCS chairman and CEO, said the company foresees a “much improved” pipeline of federal business due in part to the national public safety network program known as the First Responder Network Authority, or FirstNet.

TCS’ commercial segment saw its revenue for the quarter increase 9 percent to $45.7 million and full year revenue rose 9.5 percent to $479.6 million.

Check Also


House Panel OKs Potential $740.5B Defense Spending Measure for FY 2021

The House Armed Services Committee unanimously passed on Wednesday a $740.5B defense policy bill for fiscal year 2021, The Hill reported Wednesday.


L3Harris Subsidiary to Build Navy Submarine Sensor Under Potential $136M Contract

A subsidiary of L3Harris Technologies (NYSE: LHX) has been awarded a potential five-year, $135.8M contract to develop and test an optronic sensor technology for U.S. Navy submarines.