TeleCommunication Systems, Inc. (NASDAQ:TSYS) Acquires 13 New Patents, Up 9.64%
Northern, WI 05/02/2013 (GDPInsider) – TeleCommunication Systems, Inc. (NASDAQ:TSYS) is up 9.64% having started the day’s trading at 2.00. The stock had a previous close of 2.12 and is trading with a range of 2.00 and 2.20. Volume is 144.59K which is below the average tdaing volume of 205.58K. TSYS is trading 21.48% below its 52-week high of 2.70 and 92.73% above its 52-week low of 1.10. TeleCommunication Systems, Inc. develops and delivers a range of communication technology solutions and has a strong presence in the mobile cloud computing services space. The company announced today (May 1, 2013) that it has received a total of 11 patents in the first quarter of 2013 and 2 in the last quarter of 2012, all coming from the U.S. Patent and Trademark Office (USPTO). In addition to these U.S. patents, the company also received one foreign patnet in 2012.
The new patents represent a strong step by TeleCommunication Systems, Inc. to develop products in wireless data, messaging, GIS/mapping and solid state drive technologies. President and CEO, Maurice Tose believes the granting of these patnets is an important step for the company. “These patents represent TCS’ ongoing commitment to creating and monetizing leading technologies in the areas of wireless communications, public safety, location-based services and ruggedized solid-state drives,” said Tose as part of the release.
The mobile messaging sector in particular looks set to have lots of activity in the coming years and the acquisition of patents is certainly an important step in helping TeleCommunication Systems, Inc. be competitive in this arena. TSYS is trading 2.78% below its 50-day simple moving average but up 3.82% on its 20-day simple moving average. The stock has a RSI of 53.94 and analysts have set a target price 3.50. The company has a market cap of $115.84 million with a forward P/E of 6.57. Sales in the last 5 years is up 27.59% and EPS Q/Q is up 659.28%.
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