ANNAPOLIS, Md.-TeleCommunication Systems Inc. pre-announced its expected financial results, warning they will be lower than projected, due mainly to lower-than-expected customer spending late in the quarter. TCS is a provider of wireless location and messaging software.
The company said based on preliminary analysis it expects total revenue to be in the range of $37 million to $39 million, compared with previous company guidance of $43 million to $47 million.
Maurice B. Tose, chairman, president and chief executive officer of TCS, said, “Two principal factors led to the shortfall in the quarter’s results. A large carrier messaging software sale, which we had been led to expect for the quarter, was deferred by the customer from three to six months, and while our third-quarter benefit from federal Sept. 30 fiscal year-end sales, while strong, was lower than expected.”
The company will host a conference call to discuss the results Nov. 3.
TCS’s stock was trading down 44 cents this morning from an open of $3.22.
