TSS Inc (OTCMKTS:TSSI)
TSS Inc (OTCMKTS:TSSI) shares are trading up over 50% to $0.25 per share at 10:43 AM EST. TSS Inc. is a holding company whose subsidiaries include VTC, LLC doing business as Total Site Solutions and Innovative Power Systems, Inc. The two companies plan, design, develop, and maintain IT infrastructure as well as mission critical operations. TSS Inc.’s facilities business involves project management and maintenance of data center and mission-critical business operations. The company also performs systems integration of information technology (IT) equipment for original equipment manufacturer (OEM) vendors and customers to be used inside data center environments, including modular data centers. TSS Inc (OTCMKTS:TSSI) services include technology consulting, design and engineering, project management, systems integration, system installations and facilities management.
Round Rock, TX-based TSS Inc (OTCMKTS:TSSI) reported its Q4 and FY2016 figures earlier this month. FY2016 revenues came in at $27.4 million which represented a drop from the FY2015 figure of $29.5 million. Gross profit margin also dropped in FY2016 to 26% from the FY2015 figure of 28%. This led to a net loss of $1 million or (-$0.07) per TSSI share. However, there were bright spots. TSS Inc (OTCMKTS:TSSI) reduced SG&A expenses by 16% or $1.2 million. The company also reduced their operating loss by 66% which led to an adjusted EBITDA income figure of $0.2 million which compares favorably against FY2015 when the reported figure was a loss of (-$0.9) million.
TSS Inc (OTCMKTS:TSSI) is led by Anthony Angelini. Mr. Angelini has over 20 years’ experience building and operating services organizations. Anthony has broad experience with international operations, and his businesses have serviced Fortune 100 companies worldwide. Anthony last served as CEO of Zomax, Inc., a Nasdaq-listed company in the Business Process Outsourcing industry, providing fulfillment, eCommerce and manufacturing services. Jerry Gallagher is the company’s CTO. Mr. Gallagher has more than 25 years of experience in a diverse Technical and Management services background including Design, Engineering, Large-Scale Project Management, and Executive-Level Facility Management. He is well known in the mission-critical industry because of his significant experience in the capacities of Property and Facility Development; Design and Engineering; Construction; and Facility Management. Mr. Gallagher has designed, specified, and managed numerous system construction projects and has managed over 250 technical and professional personnel.
On December 28, 2016 Mr. Gallagher sold 125,000 shares of TSS Inc (OTCMKTS:TSSI) at a share price of $0.05. TSSI shares are currently trading around $0.25.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.