State and Local Agencies to Benefit From TESSCO's Total Source Offering and Supply Chain Solutions
HUNT VALLEY, Md., May 22 /PRNewswire-FirstCall/ -- TESSCO Technologies Incorporated (NASDAQ:TESS), a value-added supplier of the product solutions needed to design, build, run, maintain, and use wireless systems, has been awarded a contract with the Maryland Department of Budget and Management (DBM) to provide state and participating local government agencies with wireless communication hardware equipment.
The contract offers state and participating local government agencies the opportunity to efficiently procure wireless antennae, transmission line and radio frequency (RF) conditioning hardware equipment from TESSCO, on an as- needed basis. This contract also offers the advantage of TESSCO's total source offering of these products and access to TESSCO's supply chain solutions.
Robert B. Barnhill, chairman, president, and CEO of TESSCO, says, "We look forward to supplying the State of Maryland and participating local government agencies with these products, as needed to enhance and support the wireless public communication system in Maryland. Our product plus supply chain solutions will assure on-time availability at the lowest total cost. We are proud to have been selected to be a part of this project." About TESSCO TESSCO Technologies Incorporated is a value-added supplier of the product solutions needed to design, build, run, maintain and use wireless systems. TESSCO is committed to delivering, fast and complete, the product needs of wireless system operators, program managers, contractors, resellers, and self- maintained utility, transportation, enterprise and government organizations. As Your Total Source(R) supplier of mobile and fixed-wireless network infrastructure products, mobile devices and accessories, and installation, test and maintenance equipment and supplies, TESSCO assures customers of on- time availability, while streamlining their supply chain process and lowering inventories and total costs. To learn more, please visit TESSCO.com.
Forward-Looking Statements This press release may contain forward-looking statements. These forward- looking statements may generally be identified by the use of the words "may," "will," "expects," "anticipates," "believes," "estimates," and similar expressions, and involve a number of risks and uncertainties. For a variety of reasons, actual results may differ materially from those described in or contemplated by any such forward-looking statement. Consequently, the reader is cautioned to consider all forward-looking statements in light of the risks to which they are subject.
We are not able to identify or control all circumstances that could occur in the future that may adversely affect our business and operating results. Included among the risks that could lead to a materially adverse impact on our business or operating results are the termination or non-renewal of limited duration agreements or arrangements with our vendors and affinity partners which are typically terminable by either party upon several months notice; loss of significant customers or relationships, including affinity relationships; loss of customers either directly or indirectly as a result of consolidation among large wireless service carriers and others within the wireless communications industry; the strength of the customers', vendors' and affinity partners' business; economic conditions that may impact customers' ability to fund purchase of our products and services; our dependence on a relatively small number of suppliers and vendors, which could hamper our ability to maintain appropriate inventory levels and meet customer demand; failure of our information technology system or distribution system; technology changes in the wireless communications industry, which could lead to significant inventory obsolescence and/or our inability to offer key products that our customers demand; third-party freight carrier interruption; increased competition from competitors, including manufacturers or national and regional distributors of the products we sell and the absence of significant barriers to entry which could result in pricing and other pressures on profitability and market share; the possibility that, for unforeseen reasons, we may be delayed in entering into or performing, or may fail to enter into or perform, anticipated contracts or may otherwise be delayed in realizing or fail to realize anticipated revenues or anticipated savings; and inability to protect certain intellectual property, including systems and technologies on which we rely. DATASOURCE: TESSCO Technologies Incorporated CONTACT: Jamie Holloway, TESSCO Technologies Incorporated, +1-410-229-1123, Web site: http://www.tessco.com/
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