Teletouch Communications, Inc. (TLLE)

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Teletouch Communications, Inc. (TLLE)

Postby QualityStocks » Fri Aug 17, 2012 11:12 am

Teletouch Communications offers a comprehensive suite of wireless telecommunications solutions, including cellular, GPS-telemetry, and wireless messaging. Founded in 1964, the company provides its products and services to consumers, businesses, and government agencies, operating a chain of 11 retail and authorized agent stores, in conjunction with its direct sales force, call center operations, and various retail eCommerce websites.

Through its wholly owned subsidiary, Progressive Concepts, Teletouch operates a national distribution business, PCI Wholesale, primarily serving Tier-1 (AT&T, T-Mobile, Verizon, Sprint) cellular carrier agents, Tier-2, Tier-3, and rural carriers, as well as auto dealers and smaller consumer electronics retailers. The subsidiary’s international sales coverage includes Canada, Mexico, Brazil, Singapore, and China.

The company is currently focusing on growing its core wholesale distribution business. The business plan being executed includes selling non-core corporate assets and reviewing potential acquisition opportunities. Operators and retailers of all sizes are seeking new sources of revenue at lower costs, creating a large opportunity to provide great products and value-added distribution capabilities at competitive prices.

Teletouch’s management team has extensive experience in financing, acquiring, and operating retail, wireless and other related companies. Robert McMurrey, Chairman and CEO, guided Teletouch’s original external expansion with the completion of over 15 acquisitions to date. Today, the company supports over 60,000 wireless customers, leveraging its long-standing relationships and global presence to drive future earnings growth.
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Re: Teletouch Communications, Inc. (TLLE)

Postby protostars » Tue Aug 28, 2012 7:48 am

Key thing here is that they are clearly looking to make some important changes as they focus more on their core wholesale distribution business, selling non-core corporate assets and reviewing potential acquisition opportunities.
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Re: Teletouch Communications, Inc. (TLLE)

Postby stockseeker30 » Tue Aug 28, 2012 11:39 pm

Looks as if they have a solid base to go to for reference as they look to expand even further
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Re: Teletouch Communications, Inc. (TLLE)

Postby mwest » Wed Aug 29, 2012 12:03 am

It also pays to have a staff that knows what they are doing and that have been there before themselves
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Re: Teletouch Communications, Inc. (TLLE)

Postby protostars » Wed Aug 29, 2012 7:11 am

Highly competitive industry, though Teletouch has put together a broad distribution network, both nationally and internationally (tier 1, 2, and 3, plus auto and electronics dealers).
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Re: Teletouch Communications, Inc. (TLLE)

Postby armedical » Wed Aug 29, 2012 6:18 pm

They work with reputable companies that have thousands of customers and they are providing satisfying service.
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Re: Teletouch Communications, Inc. (TLLE)

Postby QualityStocks » Wed Aug 29, 2012 8:30 pm

Teletouch Communications, Inc. (TLLE) Reports Financial Results and Operational Highlights for Fiscal Year 2012

Teletouch Communications, a leading U.S. cellular services provider and consumer electronics distributor supporting over 60,000 wireless customers, earlier today reported its audited consolidated results on Form 10-K for the 2012 fiscal year ended May 31, 2012.

Financial highlights of the year include total operating revenues of $34.42 million; income from operations of $6.32 million; EBITDA of $7.48 million; net income of $4.17 million; basic earnings per share of $0.09; diluted earnings per share of $0.08; and reduction of total liabilities by $6.59 million. For the fourth quarter alone, the company reported total operating revenues of $8.30 million; income from operations of $0.65 million; EBITDA of $0.91 million; and net income of $0.16 million.

“As we look back and reflect on all of the events that transpired during fiscal 2012, what becomes readily apparent is the total mass of activity, both set-backs and accomplishments, that has set the stage for the Company’s future direction for the next several years,” stated T. A. “Kip” Hyde, Jr., President, Chief Operating Officer and Director of Teletouch. “From geometric growth in our two-way radio/PSE unit, to favorably settling the AT&T litigation, to a change of control in our stock holders, to our senior credit provider, Thermo Credit LLC, having its own difficulties and pulling our credit line, to a material sales tax assessment related to issues not identified in any State of Texas sales tax audits of the Company in any prior years, to satisfying the pent-up demand for the iPhone in our customer base, to completing our first direct handset manufacturer distribution agreement and a nearly a dozen other distribution agreements, we’ve been busy. To put it mildly, this past fiscal year has been a wild ride.”

Hyde continued, “Then add, since the end of the May 2012, the recent sale of that same two-way radio/PSE business, going through a road-show presentation process, with the subsequent term sheet negotiations and then signing, with due diligence now in process with a potential new lender, our high levels of activity continue, but are now all focused on furthering future growth for the Company. While we still have a few remaining challenges, returning Teletouch to operating profitability has been foremost among our goals, and we achieved that for the fourth quarter and year as a whole. All in all, it has been a great way to start fiscal 2013.”

On September 5, 2012, at 4:15 p.m. EDT (3:15 p.m. CDT), Teletouch will hold the company’s fiscal year 2012 earnings conference call. Investors interested in participating should call 866-901-2585 or 404-835-7099. Callers will be asked to provide their first and last names, with their company or financial institution name, as applicable. Participants are advised to dial in approximately 10-15 minutes before the conference is scheduled to begin. After their information is given to an operator, participants will be placed on music-hold prior to the start of the conference.

Other recent highlights noted by the company in today’s press release are presented below in their entirety.

1st Quarter

• Two-Way Radio/Public Safety Equipment business breakout quarter, with segment revenues increasing to just over $2.9 million in the first quarter, an approximately $1.8 million or 164% increase over the same quarter last year;
• Fundamental change of Company ownership and long-term stock voting control as result of former parent company, TLL Partners, LLC debt restructuring (see related detail in 8-K, filed August 18, 2011);

2nd Quarter

• Settled the AT&T litigation, resulting in the realization of material initial, as well as additional ongoing cash compensation, new iPhone and iPad sales agreements, with 3-Yr distribution contract extensions, and new 6-yr Dealer agreements (see related detail in 8-K, filed November 28, 2011);
• Settlement included AT&T non-interference clause, paving way for renewed Company-direct manufacturer distribution relationships;

3rd Quarter

• Fulfilled hundreds of iPhone deliveries to customers waiting for AT&T litigation end;
• Received the State of Texas’ computations from its ongoing sales and use tax audit of Company’s wholly owned subsidiary, Progressive Concepts, Inc. (“PCI”) through October 2009, resulting in an accrual of a $1.88 million estimated sales tax liability. In addition, the Company recorded a sales tax liability of approximately $0.3 million related to similar tax issues that are believed to have continued beyond the current tax audit period, for a total accrual in the period of $2.18 million;
• Teletouch’s senior lender, Thermo Credit LLC (“Thermo”) advised Company that it had to exit the Company’s $12 million revolving credit facility prior to the original term because of certain issues it had with its own lender;
• Amended Thermo senior debt agreement, deferring repayment of remaining note balance until May 2012, or August 2012, assuming certain criteria were met by Company, in exchange for a $2 million payment in March 2012 towards the outstanding loan balance;

4th Quarter

• Received extensions from both of the Company’s current real estate lenders which extended the maturity dates from May 2012 to August 2012;
• Entered into distribution agreements with a variety of cellular accessory manufacturers, including, Monster Digital, Concept 101, Pure Gear®, Boston Amplifier, Cellphone-Mate, Skunk Juice®, Digital Innovations, Dicotta Cases, Wilson Electronics®, among others;
• Expanded consumer electronics/12-volt audio product lines by entering into direct distribution agreements with manufacturers including Cadence Acoustics, Cerwin Vega®, Diamond Audio and Lightning Audio®;
• Returned Company to profitability, having positive EBITDA and net income for the fourth quarter (EBITDA is a non-GAAP measure; see “Disclosure of Non-GAAP Financial Measures” below).

Events Subsequent to Year End

• In June 2012, signed National Distribution Agreement with TCT Mobile Multinational Ltd to sell Alcatel OneTouch® branded cellular handsets. Initial inventory expected to be available by mid-October 2012;
• Sold legacy two way radio and public safety equipment business to Irving, Texas-based DFW Communications, Inc. for approximately $1.5 million in August 2012;
• Completed negotiating and executed term sheet with prospective new lender for senior revolving and term credit facilities to replace current credit facility with Thermo Credit. Although the term sheet is non-binding, diligence process started in late August 2012, with closing targeted for mid- to late September 2012.
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Re: Teletouch Communications, Inc. (TLLE)

Postby stockseeker30 » Wed Aug 29, 2012 11:07 pm

When you can look back and see more accomplishments than set backs you are doing pretty good
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Re: Teletouch Communications, Inc. (TLLE)

Postby mwest » Wed Aug 29, 2012 11:22 pm

It's also allowing those set backs to propel you towards changing the way you do and look at things that brings success as well
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Re: Teletouch Communications, Inc. (TLLE)

Postby protostars » Thu Aug 30, 2012 8:14 am

As Kip Hyde said "this past fiscal year has been a wild ride".
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Re: Teletouch Communications, Inc. (TLLE)

Postby armedical » Thu Aug 30, 2012 8:03 pm

Let's hope that this years numbers are even better that last years.
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Re: Teletouch Communications, Inc. (TLLE)

Postby stockseeker30 » Thu Aug 30, 2012 11:26 pm

Next year should proven even more intersting for them as they work even more diligently on their plan of success.
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Re: Teletouch Communications, Inc. (TLLE)

Postby mwest » Thu Aug 30, 2012 11:29 pm

Those extensions that they recieve should come in very handy as they push forward
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Re: Teletouch Communications, Inc. (TLLE)

Postby protostars » Fri Aug 31, 2012 7:54 am

The summary was basically that "returning Teletouch to operating profitability has been foremost among our goals, and we achieved that for the fourth quarter and year as a whole. All in all, it has been a great way to start fiscal 2013.”
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Re: Teletouch Communications, Inc. (TLLE)

Postby stockseeker30 » Fri Aug 31, 2012 5:30 pm

They have done a lot of movement with buying new companies and expanding themselves
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Re: Teletouch Communications, Inc. (TLLE)

Postby mwest » Fri Aug 31, 2012 5:54 pm

staying busy and you will always find success coming your way
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Re: Teletouch Communications, Inc. (TLLE)

Postby protostars » Tue Sep 04, 2012 7:34 am

Less known is their community involvement with Ft. Worth and the surrounding area. Their "What If 10%" program allows participating Hawk Electronics customers to designate that 10% of their purchases’ net proceeds be donated to their desired organization or business, including all consumer electronics and monthly Hawk-billed cellular services.
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Re: Teletouch Communications, Inc. (TLLE)

Postby armedical » Tue Sep 04, 2012 5:45 pm

When a company gives back to their community it sets them apart from every other provider out there. People are more willing to buy or use a product if the company that provides the service or product is donating to the community.
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Re: Teletouch Communications, Inc. (TLLE)

Postby stockseeker30 » Tue Sep 04, 2012 10:02 pm

Thanks for that information protostars they should put that information out there more, investors love hearing stories like that from the companies they are investing in.
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Re: Teletouch Communications, Inc. (TLLE)

Postby mwest » Tue Sep 04, 2012 10:49 pm

I agree we all love to hear how a company is giving back to the community
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