TSS Inc (TSSI)

[Quintessence]

Audited financials and conference call coming around the end of March. Here are some highlights from their preliminary estimates. Hoping for some volume and good price movement as we approach the reports.

While our results for the fourth quarter and fiscal year will not be final until the conclusion of our audit and the announcement of our final results at the end of March, the following are preliminary estimates for the fourth quarter and full year ended December 31, 2015:

Fourth Quarter Highlights:

Fourth quarter 2015 revenue of approximately $10 million compared with $8.4 million in the fourth quarter of 2014 and $6.3 million in the third quarter of 2015.
Gross margin of approximately 25% in the fourth quarter of 2015 compared with 31% in the fourth quarter of 2014.
Reduced operating expenses by 10% compared to the fourth quarter of 2014.
Adjusted EBITDA income of approximately $400,000 compared with Adjusted EBITDA income of $201,000 in the fourth quarter of 2014 and an Adjusted EBITDA loss of $93,000 in the third quarter of 2015.

Fiscal Year Highlights:

2015 revenue of approximately $29 million compared to $28 million in 2014.
Gross margin of 28% in 2015 and 31% in 2014.
Reduced operating expenses by approximately 7% compared to 2014.
Adjusted EBITDA loss of approximately $0.8 million compared to an Adjusted EBITDA loss of $1.5 million in 2014

"As we anticipated, our expected fourth quarter results showed improvements in revenue and a return to positive adjusted EBITDA. While not finalized, we feel these expected results are indicative of the positive trends occurring within our business," said Anthony Angelini, President and Chief Executive Officer of TSS. "Due to the time necessary to complete our year-end financial closing procedures, we are providing preliminary results to investors. We plan to hold our regular conference call near the end of March when we will share our audited 2015 results."

http://www.itbusinessnet.com/article/TSS-Provides-Preliminary-Fourth-Quarter-and-2015-Results-4287783