TESSCO Tech jumps on upbeat 2022 forecast

Tessco Technologies

08/07/2021 12:02

** Shares of wireless equipment provider  TESS.O  jump about
36% to $7.83 premarket - set to open at an over two-month high
    ** Co forecasts 2022 revenue of $408 mln to $442 mln,
compared with $373 mln a year earlier  urn:newsml:reuters.com:*:nBwc4szqa
    ** Expects full-year net loss of $6.5 mln to $4.1 mln vs a
loss of $14.3 mln last year 
    ** Says sales bookings rose 37% in Q1 as its markets showed
signs of post-pandemic recovery; expects revenue gains from
growing backlog in future quarters
    ** Stock had fallen 7.7% this year, up to last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))