TSS Inc (TSSI)

[Quintessence]

Nice Report out. Some highlights below.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11289788

ROUND ROCK, TX – March 30, 2016 – TSS, Inc. ( Other OTC: TSSI ) , a data center and mission critical facilities and technology services company, reported results for its fourth quarter and fiscal year ended December 31, 2015.

Fourth Quarter Highlights:

? Fourth quarter 2015 revenue of $10.1 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 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.
? Net income of $0.0 million or $0.00 per share, compared to a net loss of $170,000 or $(0.01) per share in the fourth quarter of 2014.
? Adjusted EBITDA income of $393,000 compared with Adjusted EBITDA income of $201,000 in the fourth quarter of 2014 and an Adjusted EBITDA loss of $252,000 in the third quarter of 2015.

Fiscal Year Highlights:

? 2015 revenue of $29.5 million compared with $28 million in 2014, an increase of 5%.
? Gross profit margin of 28% in 2015 compared with 31% in 2014.
? Reduced operating expenses by 8% compared to 2014.
? Reduced operating losses by 25% compared to 2014.
? Net loss of $2.2 million or $(0.14) per share, compared to net loss of $2.8 million or $(0.19) per share in 2014.
? Adjusted EBITDA loss of $0.8 million in 2015 was 47% lower compared with Adjusted EBITDA loss of $1.5 million in 2014.

“Consistent with the preliminary results we released in early February, our fourth quarter and fiscal 2015 results showed improvements in revenue and reductions in losses compared to 2014,” said Anthony Angelini, President and Chief Executive Officer of TSS. “We were pleased to achieve operating and net income in our fourth quarter of 2015 from both revenue growth and cost control activities.”

“Key to improving profitability will be increasing revenue in our higher margin businesses, including higher utilization of our systems integration infrastructure and continuing cost controls. Our portfolio of services and customer relationships position us for growth as the market for data center lifecycle management continues to mature and grow,” stated Angelini.