8-K
filed November 14, 2022, 6:59 PM ET
ticker TSSI
CIK 0001320760
leadership
confidence high
sentiment positive
materiality 0.80
TSS appoints new CEO Darryll Dewan; Q3 revenue up 76% to $8.1M, net income $0.03/share
TSS, Inc.
- Q3 2022 revenue $8.1M vs $4.6M YoY; operating income $871K vs $228K.
- Net income $605K ($0.03 per share) vs $123K ($0.01) in Q3 2021.
- YTD revenue $19.7M vs $12.8M; net income $1.068M vs loss $1.032M.
- Darryll Dewan appointed President/CEO effective Nov 14, succeeding Anthony Angelini.
- New CEO gets base salary $385K, option for 1.25M shares at $0.62; Angelini gets $385K severance.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
TSS, Inc. reported the third quarter ended September 30, 2022 results: revenue $8.1 million, net income $605,000, EPS $0.03 per share.
- Period
- the third quarter ended September 30, 2022
- Revenue
- $8.1 million
- Net income
- $605,000
- EPS
- $0.03 per share
- Result
- reported results
Exact text from the filing
and technology services company, reported results for its third quarter ended September 30, 2022. Third Quarter Highlights (unaudited): ● Third quarter 2022 revenue of $8.1 million compared with $4.6 million in the third quarter of 2021. ● Gross margin of 34% in the third quarter of 2022 compared with 42% in the third quarter of 2021. ● Operating income of
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
TSS, Inc. reported the nine months ended September 30, 2022 results: revenue $19.7 million, net income $1,068,000, EPS $0.05 per share.
- Period
- the nine months ended September 30, 2022
- Revenue
- $19.7 million
- Net income
- $1,068,000
- EPS
- $0.05 per share
- Result
- reported results
Exact text from the filing
of $1,043,000 in the third quarter of 2022 compared with Adjusted EBITDA income of $476,000 in the third quarter of 2021. Year-to-date Highlights (unaudited): ● 2022 revenue of $19.7 million compared with $12.8 million in 2021. Reseller revenues were $5.6 million in 2022 compared to $3.0 million in 2021. ● Gross margin of 36% in 2022 and 2021. ● Operating income of
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Darryll Dewan was appointed as Director at TSS, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
Mr. Dewan has also been appointed to the Company’s board of directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.9
Anthony Angelini resigned as Director at TSS, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Mr. Angelini has agreed to tender his resignation from the Company’s board of directors effective the earlier of December 31, 2022, or the date he ceases providing transition services to the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Anthony Angelini resigned as Chief Executive Officer at TSS, Inc..
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
On November 14, 2022, the Company issued a press release announcing the appointment of Darryll Dewan as President and Chief Executive Officer of the Company, effective November 14, 2022, succeeding Anthony Angelini.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Darryll Dewan was appointed as President and Chief Executive Officer at TSS, Inc..
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
On November 14, 2022, the Company issued a press release announcing the appointment of Darryll Dewan as President and Chief Executive Officer of the Company, effective November 14, 2022, succeeding Anthony Angelini.
View on SEC.gov
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