TeleCommunication Systems revenue up sequentially, down year over year

TeleCommunication Systems, Inc. (NASDAQ: TSYS) said its revenue was USD85.1m, up eight percent sequentially from USD78.6m in the previous quarter and down ten percent from USD94.8m in the first quarter of 2013.

Adjusted EBITDA was USD8.0m compared to USD9.5m in the year-ago quarter. Adjusted net income was USD2.2m or USD0.04 per diluted share, up from USD2.1m or USD0.04 per diluted share in the first quarter of 2013.

GAAP net loss of USD(0.01) per diluted share was the same as for the first quarter last year.

TeleCommunication Systems is a world leader in highly reliable and secure mobile communication technology. Its website is at www.telecomsys.com.

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