Press release
TSS, Inc. Reports First Quarter 2022 Results
ROUND ROCK, Texas, May 16, 2022 (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 16, 2022 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center facilities and technology services company, reported results for its first quarter ended March 31, 2022. First Quarter Highlights (Unaudited): First quarter 2022 revenue of $5.2 million compared with $5.2 million in the first quarter of 2021. Reseller revenues were $1.7 million in the first quarter of 2022 compared with $2.2 million in the first quarter of 2021.Gross margin of 32% in the first quarter of 2022 compared with 25% in the first quarter of 2021.Operating loss of $173,000 in the first quarter of 2022 compared to an operating loss of $607,000 in the first quarter of 2021.Net loss of $308,000 or $0.02 per share in the first quarter of 2022 compared to a net loss of $699,000 or $0.04 per share in the first quarter of 2021.Adjusted EBITDA income of $43,000 in the first quarter of 2022 compared with an Adjusted EBITDA loss of $334,000 in the first quarter of 2021. “We saw some improvement in supply chain shortages during the first quarter that allowed us to improve on our results compared to last year,” said Anthony Angelini, President and Chief Executive Officer of TSS. “Our facilities and reseller businesses saw improved profit in the first quarter. We anticipate the supply situation will continue to improve throughout the balance of 2022. Based on this improvement and our backlog of projects, we expect a significant improvement in our revenue and profitability throughout the year.” Quarterly Conference Call Details The Company has scheduled a conference call to discuss the first quarter 2022 financial results for Monday, May 16, 2022, at 4:30 PM Eastern. To participate on the conference call, please dial -866-374-5140 toll free from the U.S., or 1-404-400-0571 for international callers. The PIN# is 61514819#. The event ID number is EV00134940. 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 16, 2022. The audio replay can be accessed at the following url: https://onlinexperiences.com/Launch/QReg/ShowUUID=24C7A261-F472-4002-850B-674F73622CD7&LangLocaleID=103...