RTTNews | Dec 29, 2020 10:16AM EST

10:16 Tuesday, December 29, 2020 (RTTNews.com) - Shares of communications security devices maker Technical Communications Corporation (TCCO) are surging more than 130% Tuesday morning despite wider net loss in the fiscal year ended September 26, 2020.

The stock touched a new high of $13 this morning.

For the full-year, the company reported a net loss of $911,000, or $0.49 per share compared with net income of $631,000, or $0.34 per share in the same quarter a year ago.

Revenue for the year was $4.11 million compared with $7.02 million for the same period a year ago.

"The COVID-19 pandemic continues to delay several projects that are in the pipeline, and those delays continue although we have experienced some limited progress toward the resumption of the procurement process," said Carl H. Guild Jr., President and CEO of Technical Communications Corporation.

Read the original article on RTTNews ( https://www.rttnews.com/3156611/stock-alert-technical-communications-corporation-soars-130.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved