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TeleCommunication Systems Incorporated

TeleCommunication's revenue falls 19 percent with U.S. cutbacks

TeleCommunication's revenue falls 19 percent with U.S. cutbacks

TeleCommunication Systems Inc., a provider of mobile communication technology, reported a 19 percent decline in revenue for the second quarter largely to a decline in sales to the U.S. government, a major customer.

The Annapolis-based company said revenue reached $92.8 million for the April-to-June period, down from $114.6 million a year earlier. The company reported a $1.87 million loss, or 3 cents per share, for the quarter, compared with a loss of $111 million, or $1.91 per share, the year before when TeleCommunication took an impairment charge related to a previous acquisition.

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