TEL INSTRUMENT ELECTRONICS CORP

TEL INSTRUMENT ELECTRONICS CORP designs and manufactures avionics test and measurement instruments. Established in 1947 and based in East Rutherford, NJ, the company provides instruments used to test, measure, calibrate, and repair airborne navigation and communication equipment. Its products serve the global commercial air transport, general aviation, and government/military defense markets. The company's equipment ranges in list price from $24,995 to $99,900. TEL INSTRUMENT ELECTRONICS CORP has developed multi-function testers designed to simplify ramp tests, requiring less operator training, fewer test sets, and lower product support costs. Over the last two decades, the company has become a major manufacturer and supplier of Identification Friend or Foe ("IFF") flight line test equipment. The company is publicly traded on the OTCQB under the symbol "TIKK." TEL INSTRUMENT ELECTRONICS CORP received a $3 million funded Navy Engineering Change Proposal ("ECP") contract from the U.S. Navy to address product obsolescence in CRAFT (AN/USM-708) units. The company has sold approximately 1,200 of the AN/USM-708 and AN/USM-719 units to the Navy, and over 1,000 test sets to other customers, including the F-35 program. The development and testing phase of this program is complete. A full-rate production contract was awarded in August 2025 for the upgrade of 682 test sets, followed by an additional production contract in October 2025 for further 708A and 719A upgrades and repairs. The maximum value of this contract is $37 million. TEL INSTRUMENT ELECTRONICS CORP has received delivery orders totaling $3.7 million for 708A upgrades, with significant additional delivery orders anticipated this year. For the Navy ECP units, the company will upgrade existing units with new printed circuit boards ("PCB's") and software. Initial deliveries began in March 2026, and volume KIT deliveries are scheduled to commence in the second quarter of fiscal 2027.