Technical Communications Corporation (NASDAQ: TCCO) was one of the top gainers in Tuesday’s trading session. The stock gained by 308.16% to close the day at $8.00. This followed the company’s return to profitability after losses in the last financial year.

On the 9th of December, the company announced its Q3 and full-year results. It reported that, it had a net income of $1,032,000 for the quarter ending on September 28th. This represents an EPS of $0.56 on revenues of $2,749 million. This compares favorably to a net loss of $259k in a similar quarter in the last financial year, which represented an EPS loss of $0.14 on revenues of $1,137,000.

On top of that, the company announced that, it had a full-year net income of $631k or an EPS of $0.34 on revenues of $7,024,000. This is more favorable than the net loss of $1,480,000 or an EPS loss of $0.80 on revenues of $3,685,000 that it recorded in the last financial year.

Speaking on the results, the company CEO, Carl H. Guild, stated that, the swing back to profitability followed a completion in delivery on a number of foreign and domestic contracts.  He added that, the company provided a number of engineering services in contracts that were done in the 2019 financial year. On top of that, the company stated that, one of its key product differentiators is the provision of high-end customized cryptographic services and it recorded growth.

Looking at the charts, the stock traded between a high of $10.49 and a low of $4.80 before closing the day at $8.00. Volumes in the day stood at 28.3 million.

About Technical Communications Corporation

Technical Communications Corporation designs, makes and distributes communications security devices and services globally.  Its primary services include voice, fax, and data. It has its headquarters in Concord, Massachusetts.