Press release
TSS, Inc. Reports Second Quarter 2021 Results
ROUND ROCK, Texas, Aug. 16, 2021 (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, Aug. 16, 2021 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center facilities and technology services company, reported results for its second quarter ended June 30, 2021. Second Quarter Highlights (unaudited): Second quarter 2021 revenue of $3.1 million compared with $6.5 million in the second quarter of 2020. Reseller revenues were $0.1 million in the second quarter of 2021 compared with $3.0 million in the second quarter of 2020.Gross margin of 47% in the second quarter of 2021 compared with 12% in the second quarter of 2020.Operating loss of $351,000 in the second quarter of 2021 compared to operating loss of $949,000 in the second quarter of 2020.Net loss of $456,000 or $0.03 per share in the second quarter of 2021 compared to net loss of $1,042,000 or $0.06 per share in the second quarter of 2020.Adjusted EBITDA loss of $106,000 in the second quarter of 2021 compared with Adjusted EBITDA loss of $724,000 in the second quarter of 2020. “Our first half of the year was impacted by a lower level of reseller business and supply chain shortages that have occurred throughout the industry. We are seeing a significant improvement in pipeline and orders across all of our business streams for the back half of the year and anticipate a significant improvement in our operating results as we deliver a large degree of upside in the third and fourth quarters.” said Anthony Angelini, President and Chief Executive Officer of TSS. “Our current projections show us returning to profitability in the second half of the year. The momentum of our business is strong, and we believe that our positioning for growth over the next several quarters will catapult us significantly as we roll into 2022.” Quarterly Conference Call Details The Company has scheduled a conference call to discuss the second quarter 2021 financial results for Monday, August 16, 2021, 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 50207960#. 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 an...