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Tessco Technologies expects future profits, declares dividend

(Erwin Wodicka / Depositphotos.com)

(Erwin Wodicka / Depositphotos.com)

Tessco Technologies Inc., a wireless industry supplier based in Hunt Valley, reported its third-quarter results on Tuesday.

Revenue of $146.3 million was down slightly from $147.2 million in the same quarter of the prior year, but up from $145.1 million in the second quarter.

Earnings of 19 cents per share marked an increase from 15 cents per share in the same quarter of the previous year, and down from than the 21 cents per share in the second quarter.

Murray Wright, president and chief executive officer, said that unlike the previous two fourth quarters, the company expects to turn a profit in the upcoming fourth quarter.

The company’s board of directors declared a dividend of 20 cents per share, payable Feb. 28 to stockholders of record on Feb. 14.


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