Trans-Industries, Inc. Reports First-Quarter 2005 Results
13 Maio 2005 - 6:30PM
PR Newswire (US)
Trans-Industries, Inc. Reports First-Quarter 2005 Results AUBURN
HILLS, Mich., May 13 /PRNewswire-FirstCall/ -- Trans-Industries,
Inc. (NASDAQ:TRNI), a leading manufacturer of interior bus lighting
products, electronic information systems and software, plus dust
extraction systems and related components for the mass transit and
highway markets, today announced results for the first quarter
ended March 31, 2005. Sales for the quarter totaled $5.3 million
compared with $7.5 million for the same period last year. Most of
this decline was attributable to decreased sales of the Company's
lighting products and its digital display products. On this reduced
volume, a net loss of $911,000, or $.29 per share, was incurred
compared with a loss of $267,000, or $0.09 per share, for the same
quarter last year. The reduction in lighting products revenues was
a result of reduced transit bus production, lower demand for the
Company's modular parcel racks, and market acceptance of a
competitor's product. Reduced sales of digital display products
were primarily attributable to reduced sales of overhead highway
signs. Sales of dust abatement equipment recorded a moderate
increase of $348,000 for the first quarter of 2005 compared with
the same quarter of 2004. The Company continues to focus on
improving profitability and cash flow by reducing corporate
management expenses, matching the workforce size to sales volumes,
and reducing fixed costs through manufacturing plant
consolidations. The Company's strategic market refocusing has begun
to create some new orders and new customers. About the Company The
Company is a leading provider of lighting systems and related
components to the mass transit market as well as a supplier of
information hardware and software solutions on Intelligent
Transportation Systems (ITS) and mass transit projects. ITS
utilizes integrated networks of electronic sensors, signs and
software to monitor road conditions, communicate information to
drivers and help transportation authorities better manage traffic
flow across their existing infrastructures. Forward-Looking
Statements: Except for statements of historical fact, this news
release contains certain forward-looking statements about the
Company. Such statements are subject to significant risks and
uncertainties including changes in economic and market conditions,
management of growth, and other risks noted in the Company's SEC
filings, which may cause actual results to differ materially. Visit
Trans-Industries at http://www.transindustries.com/ Financial
Tables Follow ..... Trans-Industries, Inc. Sales and Earnings
Report (Unaudited) Quarter Ended March 31, 2005 First Quarter
Ending March 31 2005 2004 Sales $5,269,183 $7,534,929 Cost of Sales
4,175,441 5,605,874 Gross Profit 1,093,742 1,929,055 Selling, Gen.
& Admin. Exp. 1,869,752 1,965,333 Interest 120,824 162,508
Restructuring Costs 0 75,601 Other (19,990) (6,931) Total Expenses
1,970,586 2,196,511 Earnings/(Loss) Before Income Taxes (876,844)
(267,456) Income Taxes/(Benefit) 0 0 Net Income/(Loss) (876,844)
(267,456) Preferred Dividend (33,716) 0 Net Earnings/(Loss)
Available to Common Shareholders $(910,560) $(267,456)
Earnings/(Loss) Per Share $(0.29) $(0.09) Weighted Average Number
of Shares Outstanding 3,139,737 3,139,737
**************************************************************************
Consolidated Balance Sheet (Unaudited) First Quarter Ending March
31 Assets: 2005 2004 Total Current Assets $ 10,708,060 $ 15,843,592
Net Fixed Assets 1,885,191 3,553,755 Other Assets 1,561,542 544,013
Total Assets $ 14,154,793 $ 19,941,360 Liabilities and
Shareholders' Equity: Total Current Liabilities $ 10,928,323 $
13,260,300 Long-Term Debt 175,415 294,173 Shareholders' Equity
3,051,055 6,386,887 Total Liabilities and Shareholders' Equity $
14,154,793 $ 19,941,360 DATASOURCE: Trans-Industries, Inc. CONTACT:
Kai Kosanke, Chief Financial Officer of Trans-Industries,
+1-248-364-0400 Web site: http://www.transindustries.com/
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