TSS, Inc. (PNK:TSSI) Q4 2023 Earnings Call Transcript

TSS, Inc. (PNK:TSSI) Q4 2023 Earnings Call Transcript March 28, 2024

TSS, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Thank you for standing by, and welcome to the TSS Fourth Quarter and Fiscal 2023 Earnings Call. I would now like to welcome John K. Penver, Chief Financial Officer, to begin the call. John, over to you.

John Penver: Thank you, Mandeep. Good afternoon, everyone. Thank you for joining us on TSS' conference call to discuss our fourth quarter and our fiscal 2023 financial results. I'm John Penver, the Chief Financial Officer of TSS. And joining me today on the call is Darryll Dewan, the President and Chief Executive Officer of TSS. As we begin the call, I would like to remind everyone to take note of the cautionary language regarding forward-looking statements that's contained in the press release we issued today. That same language applies to comments and statements made on this conference call. This call will contain time-sensitive information as well as forward-looking statements, which are accurate as of today, March 28, 2024.

TSS expressly disclaims any obligations to update, amend, supplement or otherwise review any information or forward-looking statements made on this conference call or the replay to reflect events or circumstances that may arise after today's date, except as otherwise required by applicable law. For a list of the risks and uncertainties which may affect future performance, please refer to the company's periodic filings with the Securities and Exchange Commission. In addition, we will be referring to non-GAAP financial measures. A reconciliation of the differences between those measures with the most directly comparable financial measures calculated in accordance with GAAP is included in today's press release. Darryll will kick off today's call with an overview, and then I will provide more of a review of our fourth quarter and fiscal '23 results and then turn I will turn the call back over to Darryll to discuss our strategy and direction.

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Darryll?

Darryll Dewan: Great. Thanks, John. Earlier today, we released a press release announcing our financial results for the fourth quarter and for the full year of 2023. A copy of that release will be made available on our website at www.tssiusa.com. On behalf of the entire TSS team, I'm very pleased to report that we achieved very strong financial results in Q4 and fiscal year that contributed to a strong 2023 as well. As I forecasted in our last earnings call, we anticipated a strong fourth quarter in revenues, operating income, net income, and EBITDA, and we delivered. We achieved our plan and recorded 24.4 million in revenue in our fourth quarter, our highest quarter revenue ever, which helped drive our full year 2023 revenues to 54.4 million.

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