Tel-Instrument Electronics Corp. announced consolidated earnings results for the fourth quarter and full year ended March 31, 2012. For the quarter, the company reported net sales of $5,170,878 compared with $3,768,165 for the same period a year ago. Income from operations was $237,210 compared with $268,997 for the same period a year ago. Income before income taxes was $44,235 compared with $164,170 for the same period a year ago. Net loss was $48,936 or $0.02 per diluted share compared with net income of $207,342 or $0.08 per diluted share for the same period a year ago. For the full year, the company reported net sales of $16,508,678 compared with $13,540,600 for the same period a year ago. Income from operations was $676,008 compared with $163,771 for the same period a year ago. Income before income taxes was $426,735 compared with loss before income taxes of $306,412 for the same period a year ago. Net income was $71,016 or $0.02 per diluted share compared with net loss of $127,052 or $0.05 per diluted share for the same period a year ago. As previously reported, TIC is forecasting sharply reduced revenues and a significant loss in the first quarter of fiscal 2013 ended June 30, 2012 due mainly to a temporary hold in CRAFT 708 production shipments to correct issues discovered in prior CRAFT 719 deliveries and to incorporate the final AIMS approved software configuration which includes several product enhancements. TIC also continues to experience delays in securing a production release on the TS-4530A program from the Army. The Company is working closely with the Navy and the Army to secure production releases on the CRAFT and TS-4530A programs and is optimistic that this will occur within the short-term. TIC is still predicting significant revenue and profitability growth for the fiscal year ending March 31, 2013.