Michael Syracuse, President/CEO
We are well into our 2016 business year which is also our 50th Anniversary year of providing high quality products and services to our customers in the national defense community. It has been a long and exciting journey for our company.
We have enjoyed the privilege of contributing to the success of many important technology programs which are vital to national security. The list of TSC’s participation and contributions is long. It includes, but certainly is not limited to, support to Navy surface combatant radars and US Marine Corps systems, Ballistic Missile Defense analysis, engineering for advanced space defense and communications programs, sensor simulations and test sets, engineering for air traffic control radars, and support for the Phalanx Close-in Weapons System. The company has a long, successful history providing the design and engineering of seekers, antennas, and proximity sensors for US Army missile programs, and delivering well-engineered, high quality defense electronics assemblies and sub-systems. The rapid development and fielding of Intelligence Surveillance and Reconnaissance (ISR) systems on Unmanned Aerial Systems and other platforms in response to urgent customer needs is a new, important part of our business. Each employee and each office location can be justifiably proud of their contributions to our customers.
Our 2016 year-to-date performance is on track to meet our business plan revenue target for the year. I can also report that all of our offices are making positive progress on many of the other key actions contained in their AOPs. These include recruiting new staff, improving company communications, and employee professional development. With your help the company is making excellent progress. That progress was reflected in the 11% increase in the company’s value by the independent valuation firm this past January. The increase was determined not only by our outstanding financial performance, but also by the many qualitative improvements the valuator observed that will sustain our future long-term success.
As I visit each office, I observe first hand the personal contribution each employee makes to our overall success. You have worked with your managers to build business plans that are very responsive to our customers’ needs. It is clear that TSC managers, technical teams, and individuals are motivated and committed to achieving success for our customers and our employee-owned company. I am also very aware that given the technical challenges and demands of our work, achieving success often requires personal sacrifice by you and your families. Thank you very much.
I am very proud of our heritage and to be part of this great story that you continue to write for TSC.