Press release
TSS, Inc. Reports First Quarter 2020 Results
ROUND ROCK, Texas, May 18, 2020 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center facilities and technology services company, reported results
About this update from Tss, Inc.
[{"type":"text","content":"ROUND ROCK, Texas, May 18, 2020 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center facilities and technology services company, reported results for its first quarter ended March 31, 2020.\n First Quarter Highlights: First quarter 2019 revenue of $10.6 million compared with $4.7 million in the first quarter of 2019.Gross margin of 15% in the first quarter of 2020 compared with 35% in the first quarter of 2019.Operating loss of $277,000 in the first quarter of 2020 compared to operating income of $50,000 in the first quarter of 2019.Net loss of $368000 or $0.02 per share in the first quarter of 2020 compared to net loss of $31,000 or $0.00 per share in the first quarter of 2019.Adjusted EBITDA loss of $49,000 compared with Adjusted EBITDA income of $203,000 in the first quarter of 2019. “Even though our reseller business drove strong revenue growth this quarter, we saw the impacts of the COVID-19 pandemic on our business as travel and other restrictions impacted our ability to deliver services to our customers and supply chain issues impacted our integration services capabilities,” said Anthony Angelini, President and Chief Executive Officer of TSS. “Although the magnitude and duration of the pandemic and its financial impact on our business is still unknown, we anticipate an increase in revenue and profitability in the second quarter and believe that we are in a solid position to operate profitability through this uncertainty.” Quarterly Conference Call Details The Company has scheduled a conference call to discuss the first quarter 2020 financial results for Monday, May 18, 2020 at 4:30 PM Eastern. To participate on the conference call, please dial 877-691-2551 toll free from the U.S., or 630-691-2747 for international callers. The conference code is 49685408#. Investors may also access a live audio web cast of this conference call under the “events” tab on the investor relations section of the Company's website at www.tssiusa.com. An audio replay of the conference call will be available approximately one hour after the conclusion of the call and will be made available until June 18, 2020. The audio replay can be accessed at the following url: https://onlinexperiences.com/Launch/QReg/ShowUUID=3FE07793-FA3F-456F-8E0B-0B5AC19A4B45&LangLocaleID=1033 The passcode to access the digital playback is 49685408. Additionally, ...