Tessco Technologies Inc. of Hunt Valley reported Friday that its profits increased in its third quarter over the year before, although revenue was down by about 10 percent.
Tessco, a provider of products for wireless broadband systems, earned $5.4 million, or 65 cents per share, in the third quarter ended in Dec. 30. That compares with $4.8 million, or 59 cents per share, for the corresponding quarter a year earlier.
Revenue totaled $204.5 million, down from $226 million a year earlier.
The company's stock fell $2.99 per share Friday to close at $22.95.
The company paid a special dividend in the third quarter, and announced it would pay a quarterly cash dividend of 18 cents per share on Feb. 13.Copyright © 2015, The Baltimore Sun