TCS Enterprises Inc. reported third-quarter net income...
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TCS Enterprises Inc. reported third-quarter net income of $60,000, contrasted with $15,000 over the same quarter last year. Revenues for the three-month period were $1.8 million, more than double the $909,000 reported for the same period last year.
The third-quarter profit reflects the forfeiture of $39,000 in salary by TCS Chairman Tom Stickel over the three-month period. Stickel has said he will continue to forfeit his salary until TCS is more profitable.
For the year to date, TCS net income totaled $342,000, up from $118,000 over the same nine months last year. Revenues through July 31 were $4.4 million, up from $2.5 million a year ago.
The board of directors of TCS, a financial services company, declared a 10-cent cash dividend payable Jan. 2 to shareholders of record as of Sept. 30.
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