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Business

Tessco profits fall 14 percent in most recent quarter

Tessco Technologies Inc. sales grew slightly in its fiscal first quarter, but profits shrunk 14 percent based on higher costs, the Hunt Valley company said Wednesday afternoon.

The company made $3.7 million on $152.9 million in revenue in the quarter ended June 29, compared with $4.3 million in profit on $144.1 million in revenue in the same quarter of 2013.

The 44 cents in earnings per share Tessco reported in the most recent quarter missed Wall Street analysts' estimates by a penny.

The company sells products and services related to construction, operation and maintenance of wireless broadband systems.

sdance@baltsun.com

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