chilar4567
1 month ago
4:00 PM ET 3/28/24 | GlobeNewswire
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3:56 PM ET 3/28/24
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TSSI
0.63 1.69%
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TSS, Inc. Reports Fourth Quarter And Fiscal 2023 Results
ROUND ROCK, Texas, March 28, 2024 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center services company that integrates high-performance computing infrastructure and software, reported results for its fourth quarter and fiscal year ended December 31, 2023.
Fourth Quarter Highlights (unaudited):
-- Fourth quarter 2023 revenue of $24.4 million compared with $10.9 million
in the fourth quarter of 2022. Procurement revenues were $20.8 million in
the fourth quarter of 2023 compared to $7.6 million in the fourth quarter
of 2022.
-- Operating income of $725,000 in the fourth quarter of 2023 compared to an
operating loss of $723,000 in the fourth quarter of 2022.
-- Net income of $335,000 or $0.02 per share in the fourth quarter of 2023
compared to a net loss of $1,141,000 or $(0.05) per share in the fourth
quarter of 2022.
-- Adjusted EBITDA of $923,000 in the fourth quarter of 2023 compared with
Adjusted EBITDA loss of $491,000 in the fourth quarter of 2022.
Year-to-date Highlights:
-- 2023 revenue of $54.4 million compared with $30.6 million in 2022.
Procurement revenues were $38.5 million in 2023 compared to $13.2 million
in 2022.
-- Operating income of $1,750,000 in 2023 compared to operating income of
$914,000 in 2022.
-- Net income of $74,000 or $0.00 per share in 2023 compared to a net loss
of $73,000 or $(0.00) per share in 2022.
-- Adjusted EBITDA of $2,651,000 in 2023 compared with Adjusted EBITDA of
$1,662,000 in 2022.
Darryll Dewan, CEO of TSS, commented, "2023 was a transformational year for TSS. We continued to produce strong financial results during the fourth quarter and for fiscal year 2023. We grew revenues 78% in 2023 and increased our operating income by 91% compared to 2022, while making operational and go-to-market investments in the business. Operationally, we have reorganized our integration business, investing in both the team and technology to be able to credibly demonstrate to our largest OEM partners that we can scale to serve growing demand. We selectively optimized the personnel in our integration facility, we added a Chief People Officer and direct sales personnel, and we kicked off a relationship with a PR firm to improve our branding, messaging, and web experience. New service offerings have been identified that are extensions of our core capabilities. As a result of our operational improvements and investments in growth and this vibrant technology environment, we will continue to drive improved financial results in 2024 and beyond."
Dewan continued, "As generative AI, cybersecurity and other advanced computing technologies drive data center demand, TSS is uniquely positioned to capitalize on these trends with our leading-edge system integration and deployment capabilities." Dewan continued, "The data center market is evolving. Central data centers continue to struggle to meet demand, and new models are emerging, such as edge computing. The flexibility and speed of our integration business, paired with deployment capabilities of our modular business, make for a unique "one stop shop" for our OEM partners who want to offer customized solutions and white glove service. TSS is in a great position to benefit from this next phase of data center expansion."
Quarterly Conference Call Details
chilar4567
1 month ago
TSS, INC. TO REPORT FOURTH QUARTER AND FISCAL 2023 RESULTS ON THURSDAY, MARCH 28th, 2024
4:00 PM ET 3/21/24 | GlobeNewswire
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12:00 AM ET 12/30/99
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TSSI
0.45 0.00%
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TSS, INC. TO REPORT FOURTH QUARTER AND FISCAL 2023 RESULTS ON THURSDAY, MARCH 28th, 2024
ROUND ROCK, Texas, March 21, 2024 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center services company that integrates high-performance computing infrastructure and software, will report financial results for its fourth quarter and fiscal 2023 on Thursday March 28(th) , 2024. The Company will conduct a conference call at 4.30 p.m. eastern time that day.
To participate on the conference call, please dial 1-888-596-4144 toll free from the U.S., or 1-646-968-2525 for international callers. The event ID number is 5752570. Investors may also access a live audio web cast of this conference call under the "events" tab on the investor relations section of the Company's website at https://tss-inc.ir.rdgfilings.com .
An audio replay of the conference call will be available approximately four hours after the conclusion of the call and will be made available until April 28, 2024. The audio replay can be accessed at the following url: EVENT | ECHO PLAYBACK (registrations.events)
The conference ID code to access the digital playback is 5752570. Additionally, a replay of the webcast will be available on the Company's website approximately two hours after the conclusion of the call and will remain available for 30 calendar days.
About TSS, Inc.
TSS specializes in simplifying the complex. The TSS mission is to streamline the integration and deployment of high-performance computing infrastructure and software, ensuring that end users quickly receive and efficiently utilize the necessary technology. Known for flexibility, the company builds, integrates, and deploys custom, high-volume solutions that empower data centers and catalyze the digital transformation of generative AI and other leading edge technologies essential for modern computing, data, and business needs. TSS's reputation is built on passion and experience, quality, and fast time to value. As trusted partners of the world's leading data center technology providers, the company manages and deploys billions of dollars in technology each year. www.tssiusa.com
# # #
Company Contact:
John Penver
Chief Financial Officer
TSS, Inc.
Phone: (512) 310-1000
> Dow Jones Newswires
March 21, 2024 16:00 ET (20:00 GMT)
chilar4567
1 month ago
TSS Announces Data Center Moves, Its Groundbreaking Relocation Service
10:00 AM ET 3/20/24 | GlobeNewswire
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12:00 AM ET 12/30/99
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TSSI
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TSS Announces Data Center Moves, Its Groundbreaking Relocation Service
ROUND ROCK, Texas, March 20, 2024 (GLOBE NEWSWIRE) -- Total Site Solutions (TSS) (OTCQB: TSSI), a provider of data center services that reduce complexity and time-to-value through the integration of high-performance computing infrastructure and software, today announced its newest service offering, Data Center Moves, an innovative relocation service offering. The service is designed to help businesses manage their critical infrastructure while ensuring seamless transitions and minimizing disruptions before, during and after the relocation process.
"In today's hyperconnected environment, businesses face unprecedented challenges when relocating their data centers," said Darryll Dewan, CEO of TSS. "Whether it is scaling up, optimizing performance, or ensuring business continuity, the stakes for a data center move are high. Our experts understand the intricacies of relocating infrastructure and have the capacity and commitment to rapidly delivering exceptional value to our customers by simplifying the complexity of move planning and execution."
The TSS Data Center Moves Service ensures:
-- Efficiency and Agility: TSS's relocation process begins with a detailed
understanding of customer needs ensuing minimal downtime, flexibility,
and speed to make sure all needs are quickly met in the new location.
-- Risk Mitigation: TSS's experience, knowledge, and attention to detail
mitigates risk by safeguarding critical assets and minimizing service
disruptions.
-- Standard Logistics: TSS prioritizes facility readiness -- in both the
original location and recipient location -- along with the appropriate
technical skillset to handle specific equipment and the correct physical
necessities like packing material and trucks.
-- Cost Savings: By leveraging TSS's expertise, companies can avoid costly
mistakes and optimize their relocation budget. TSS assigns experienced
Program Management to rapidly deliver a complete solution.
-- Simplified Complexity: TSS has a wealth of experience deploying, managing
and moving some of the most complex hardware and software deployments in
the data center market today bringing a talented team to your project
that can simplify the process and reduce complexity.
Visit TSS website to learn more about their data center moves services.
About TSS
TSS specializes in simplifying the complex. The TSS mission is to streamline the integration and deployment of high-performance computing infrastructure and software, ensuring that end users quickly receive and efficiently utilize the necessary technology. Known for flexibility, the company builds, integrates, and deploys custom, high-volume solutions that empower data centers and catalyze the digital transformation essential for modern computing, data, and business needs. TSS's reputation is built on passion and experience, quality, and fast time to value. As trusted partners of the world's leading data center technology providers, the company manages and deploys billions of dollars in technology each year.
TSS offers a comprehensive suite of Data Center Services including Modular Data Center integration, deployment, and maintenance, rack integration and deployment, data center moves, structured cabling, facility and site surveys and assessments, cybersecurity solutions, and IT procurement integration. https://tssiusa.com/
###
Lauren Blalock on behalf of TSS
Lblalock@piercom.com
> Dow Jones Newswires
March 20, 2024 10:00 ET (14:00 GMT)
chilar4567
1 month ago
TSS Identifies Key Data Center Technology Trends for 2024
9:00 AM ET 3/12/24 | GlobeNewswire
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2:39 PM ET 3/12/24
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TSS Identifies Key Data Center Technology Trends for 2024
AI Drives Innovation and Capacity Challenges in Rapidly Changing World of Digital Transformation
ROUND ROCK, Texas, March 12, 2024 (GLOBE NEWSWIRE) -- Total Site Solutions (TSS) (OTCQB: TSSI), a provider of data center services that reduce complexity and time-to-value through the integration of high-performance computing infrastructure and software, today shared the 2024 technology trends making a significant impact on data centers, digital transformation, and the Internet. Driven by the transformative explosion of artificial intelligence (AI) and machine learning (ML) and their impact on capacity and data compliance, these four trends will impact the market in 2024 and beyond: the adoption of modular data centers, new challenges for security and compliance, the impact of AI on energy efficiency and sustainability, and addressing the skill and talent gap in the industry.
"As the need for compute power and infrastructure continues to grow exponentially, particularly driven by AI and ML, the data center market and related technologies are having a significant impact on how people store, use, and protect data across virtually every industry," said Darryll Dewan, CEO of TSS. "While these trends and the industry have the potential to change rapidly, understanding what is happening now will better prepare people for the future and pave the way for advancements that will drive and support the infrastructure needs of society."
Data center technology trends to watch in 2024:
1. Adoption of Modular Data Centers: While "traditional racks" continue to
grow, the modular data center market is poised for significant growth
given the scalability, flexibility, cost-effectiveness, and speed of
deployment.
2. Investment in Security and Compliance: Always critical, new technologies
and innovations by both the "good guys" and "bad guys" and new
requirements to protect and ensure private and public data are not
co-mingled is changing every step of the planning, building, deployment,
and maintenance process.
3. Adoption of More Energy Efficient and Sustainable Technologies: With
requirement and regulations for environment, social and governance (ESG)
varying around the globe, technology innovation and improvement in
processes are moving beyond protecting one's reputation and brand to
becoming a competitive advantage and opportunity to reduce costs.
4. Addressing the Skills Gap and Need to Increase Training: The data center
sector is facing a skills gap due to rapid advancements, creating a need
for professionals with specialized knowledge in AI, hyperscale solutions,
modular technologies, and environmental considerations.
"Our modern digital world is creating a level of demand for data center technology, infrastructure, and talent that has never been seen before -- putting immense pressure on suppliers, vendors, and developers to deliver the components and capacity more and more rapidly," added Dewan. "Companies in the sector that can deliver more rapid time-to-value and the expertise to simplify complexity will be the winners in 2024."
Download the full Data Center Technology Trends report.
About TSS
TSS specializes in simplifying the complex. The TSS mission is to streamline the integration and deployment of high-performance computing infrastructure and software, ensuring that end users quickly receive and can efficiently utilize the technology they need. Known for flexibility, the company builds, integrates, and deploys custom, high-volume solutions that empower data centers and catalyze the digital transformation essential for modern computing, data, and business needs. TSS's reputation is built on passion and experience; as trusted partners of the world's leading data center technology providers, the company manages and deploys billions of dollars in technology each year.
TSS offers a comprehensive suite of Data Center Services including Modular Data Center integration, deployment, and maintenance, rack integration and deployment, data center moves, structured cabling, facility and site surveys and assessments, cybersecurity solutions, and IT procurement integration. https://tssiusa.com/
Contact:
chilar4567
7 months ago
TSS, INC. Wins Dell Technologies 2023 First Choice Partner Award
4:15 PM ET 9/13/23 | GlobeNewswire
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1:48 PM ET 9/14/23
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TSSI
0.35 14.58%
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TSS, INC. Wins Dell Technologies 2023 First Choice Partner Award
ROUND ROCK, Texas, Sept. 13, 2023 (GLOBE NEWSWIRE) -- TSS, Inc. (OTC: TSSI), a data center facilities and technology services company, has been awarded Dell Technologies' First Choice Partner Award for 2023.
Dell Technologies, one of the leading technology companies in the world, recognized TSS for being a top-performing data center integration partner with the recognition of the 2023 First Choice Partner Award.
TSS is a leading provider of transformative services that enable companies to efficiently deploy and benefit from technology products and solutions. They empower the critical infrastructure systems of enterprises by offering comprehensive solutions that deliver the latest technologies in data centers, operations centers, network facilities, server rooms, security operations centers, and communication facilities. With a commitment to providing rack integration, strategic procurement, and reselling services, TSS is also a leader in the implementation and maintenance of modular data centers. TSS aims to positively contribute to the success of its customers by driving innovation and progress in its services and solutions.
CEO and President Darryll Dewan accepted the Dell Technologies 2023 First Choice Partner Award on behalf of TSS, "We are honored to accept the Dell Technologies 2023 First Choice Partner Award. This achievement is a testament to our unwavering commitment to excellence and inspires us to strive for even greater service levels for our valued customers."
About TSS, Inc.
chilar4567
1 year ago
TSS, Inc. Reports Third Quarter 2022 Results
4:00 PM ET 11/14/22 | GlobeNewswire
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3:58 PM ET 11/11/22
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TSSI
0.66 0.00%
Real time quote.
TSS, Inc. Reports Third Quarter 2022 Results
ROUND ROCK, Texas, Nov. 14, 2022 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center facilities 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 $871,000 in the third quarter of 2022 compared to
operating income of $228,000 in the third quarter of 2021.
-- Net income of $605,000 or $0.03 per share in the third quarter of 2022
compared to net income of $123,000 or $0.01 per share in the third
quarter of 2021.
-- Adjusted EBITDA income 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 $1,637,000 compared to an operating loss of $730,000
in 2021.
-- Net income of $1,068,000 or $0.05 per share in 2022 compared to a net
loss of $1,032,000 or $(0.06) per share in 2021.
-- Adjusted EBITDA income of $2,202,000 in 2022 compared with Adjusted
EBITDA income of $36,000 in 2021.
Prior to this earnings release, TSS announced the appointment of Darryll Dewan as President and CEO. Dewan commented, "I am looking forward to furthering my understanding of our business. It is clear the third quarter results reflect growth across all of our business units and strong net income and adjusted EBITDA. We expect to see strong demand continue into the fourth quarter. I will communicate further with our investors as I gain greater insight into our long-term strategy and investments we may consider in our business to maintain and expand our leadership in the data center infrastructure and IT services sectors."
Quarterly Conference Call Details
The Company has scheduled a conference call to discuss the third quarter 2022 financial results for Monday, November 14, 2022, at 4:30 PM Eastern. To participate on the conference call, please dial 1-888-596-4144 toll free from the U.S., or 1-646-968-2525 for international callers. The event ID number is 3130474. Investors may also access a live audio web cast of this conference call under the "events" tab on the investor relations section of the Company's website at www.tssiusa.com.
An audio replay of the conference call will be available approximately four hours after the conclusion of the call and will be made available until December 14, 2022. The audio replay can be accessed at the following url: EVENT | ECHO PLAYBACK (registrations.events)
The conference ID to access the digital playback is 3130474. Additionally, a replay of the webcast will be available on the Company's website approximately two hours after the conclusion of the call and will remain available for 30 calendar days.
About Non-GAAP Financial Measures
Adjusted EBITDA is a supplemental financial measure not defined under Generally Accepted Accounting Principles (GAAP). We define Adjusted EBITDA as net income (loss) before interest expense, income taxes, depreciation and amortization, impairment loss on goodwill and other intangibles, stock-based compensation, and provision for bad debts. We present Adjusted EBITDA because we believe this supplemental measure of operating performance is helpful in comparing our operating results across reporting periods on a consistent basis by excluding non-cash items that may, or could, have a disproportionate positive or negative impact on our results of operations in any particular period. We also use Adjusted EBITDA as a factor in evaluating the performance of certain management personnel when determining incentive compensation.
Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA, while providing useful information, should not be considered in isolation or as an alternative to net income or cash flows as determined under GAAP. Consistent with Regulation G under the U.S. federal securities laws, Adjusted EBITDA has been reconciled to the nearest GAAP measure, and this reconciliation is located under the heading "Adjusted EBITDA Reconciliation" following the Consolidated Statements of Operations included in this press release.
About TSS, Inc.
TSS is a trusted single source provider of mission-critical planning, design, system integration, deployment, maintenance and evolution of data centers facilities and information infrastructure. TSS specializes in customizable end to end solutions powered by industry experts and innovative services that include technology consulting, engineering, design, construction, operations, facilities management, technology system installation and integration, as well as maintenance for traditional and modular data centers. For more information, visit www.tssiusa.com or call 888-321-4877.
Forward Looking Statements
This press release may contain "forward-looking statements" -- that is, statements related to future -- not past -- events, plans, and prospects. In this context, forward-looking statements may address matters such as our expected future business and financial performance, and often contain words such as "guidance," "prospects," "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could adversely or positively affect the Company's future results include: we may not have sufficient resources to fund our business and may need to issue debt or equity to obtain additional funding; our reliance on a significant portion of our revenues from a limited number of customers; risks relating to operating in a highly competitive industry; risks relating to the failure to maintain effective internal control over financial reporting; risks relating to rapid technological, structural, and competitive changes affecting the industries we serve; risks involved in properly managing complex projects; risks relating to the possible cancellation of customer contracts on short notice; risks relating our ability to continue to implement our strategy, including having sufficient financial resources to carry out that strategy; risks relating to our ability to meet all of the terms and conditions of our debt obligations; uncertainty related to current economic conditions including the impact of the COVID-19 pandemic and the related impact on demand for our services; and other risks and uncertainties disclosed in our filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2021. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
Company Contact:
TSS, Inc.
John Penver, CFO
Phone: (512) 310-1000
TSS, Inc.
Consolidated Balance Sheets
(In thousands except par values)
September 30, December 31,
2022 2021
----------------------------- ---------------------
(unaudited)
Assets
Current Assets
Cash and cash
equivalents $ 9,605 $ 7,992
Contract and
other
receivables,
net 3,046 1,846
Costs and
estimated
earnings in
excess of
billings on
uncompleted
contracts 3,098 573
Inventories, net 1,739 847
Prepaid expenses
and other
current assets 291 550
--------------------------- -----------------
Total current
assets 17,779 11,808
Property and
equipment, net 314 281
Lease right-of-use
assets 5,050 5,566
Goodwill 780 780
Intangible assets,
net 58 126
Other assets 908 720
--------------------------- -----------------
Total assets $ 24,889 $ 19,281
--------------------------- -----------------
Liabilities and
Stockholders'
Equity
Current Liabilities
Accounts payable
and accrued
expenses $ 11,619 $ 7,016
Deferred
revenues 4,274 2,435
Current portion
of long-term
borrowings - 2,023
Current portion
of lease
liabilities 621 644
--------------------------- -----------------
Total current
liabilities 16,514 12,118
Non-current portion
of lease
liabilities 4,469 4,938
Non-current portion
of deferred
revenues - 22
--------------------------- -----------------
Total
(MORE TO FOLLOW) Dow Jones Newswires
November 14, 2022 16:00 ET (21:00 GMT)
chilar4567
1 year ago
TSS, INC. TO REPORT THIRD QUARTER 2022 RESULTS ON MONDAY, NOVEMBER 14th, 2022
4:00 PM ET 11/7/22 | GlobeNewswire
Related Quotes
3:28 PM ET 11/8/22
Symbol Last % Chg
TSSI
0.64 1.60%
Real time quote.
TSS, INC. TO REPORT THIRD QUARTER 2022 RESULTS ON MONDAY, NOVEMBER 14th, 2022
ROUND ROCK, Texas, Nov. 07, 2022 (GLOBE NEWSWIRE) -- TSS, Inc. (Other OTC: TSSI), a data center and mission critical facilities and technology services company, will report financial results for its third quarter 2022 on Monday November 14th, 2022. The Company will conduct a conference call at 4.30 p.m. eastern time that day.
To participate on the conference call, please dial 1-888-596-4144 toll free from the U.S., or 1-646-968-2525 for international callers. The event ID number is 3130474. Investors may also access a live audio web cast of this conference call under the "events" tab on the investor relations section of the Company's website at https://tss-inc.ir.rdgfilings.com .
An audio replay of the conference call will be available approximately four hours after the conclusion of the call and will be made available until December 14 2022. The audio replay can be accessed at the following url: EVENT | ECHO PLAYBACK (registrations.events)
The conference ID code to access the digital playback is 3130474. Additionally, a replay of the webcast will be available on the Company's website approximately two hours after the conclusion of the call and will remain available for 30 calendar days.
About TSS, Inc.
TSS provides a comprehensive suite of services for the planning, design, deployment, maintenance, refresh and take-back of end-user and enterprise systems, including the mission-critical facilities they are housed in. TSS provides a single-source solution for enabling technologies in data centers, operations centers, network facilities, server rooms, security operations centers, communications facilities and the infrastructure systems that are critical to their function. TSS's services consist of technology consulting, design and engineering, project management, systems integration, systems installation, facilities management and IT reseller and procurement services. www.tssiusa.com
# # #
Company Contact:
John Penver
Chief Financial Officer
TSS, Inc.
Phone: (512) 310-1000
> Dow Jones Newswires
November 07, 2022 16:00 ET (21:00 GMT)
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