TELCO SYSTEMS INC <TELC.O> 3RD QTR MAY 31 LOSS Shr loss 46 cts vs loss five cts Net loss 3,922,000 vs loss 420,000 Sales 16.0 mln vs 23.9 mln Avg shrs 8,567,000 vs 8,458,000 Nine mths Shr loss 1.02 dlrs vs profit 35 cts Net loss 8,685,000 vs profit 2,978,000 Avg shrs 8,547,000 vs 8,437,000