TRNI Trans-Industries (MM)

Trans-Industries, Inc. Reports Fourth-Quarter and Year-End 2004 Results AUBURN HILLS, Mich., April 15 /PRNewswire-FirstCall/ -- Trans-Industries, Inc. (NASDAQ:TRNI), a manufacturer of bus lighting systems and information display products, announced results for the fourth quarter and the year ended December 31, 2004. Sales, as shown on the accompanying table, were $5.6 million for the quarter, a decline of 31.6 percent from the year ago quarter's sales of $8.2 million. For the year as a whole, sales were down approximately $6.0 million from $33.7 to $27.8 million. The decreases in sales for the current quarter and the year were primarily attributable to reduced production levels of heavy-duty transit buses and some loss of market share to a low-priced competitor. The Company believes that the market downturn appears to be stabilizing. For the fourth quarter of 2004, Company losses were $2.9 million, or $.93 per share, compared to losses of $1.5 million, or $.47 per share, for the same period a year ago. For the year ended December 31, 2004, the Company posted a loss of $4.0 million, or $1.27 per share, compared to a loss of $3.8 million, or $1.20 per share, for the prior year. 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. Quarterly Sales and Earnings Report (Unaudited) December 31, 2004 Fourth Quarter Ending Twelve Months Ending December 31 December 31 2004 2003 2004 2003 Sales $5,619,100 $8,217,849 $27,760,146 $33,721,456 Cost of Sales 5,421,017 6,137,775 24,158,383 25,284,634 Gross Profit 198,083 2,080,074 3,601,763 8,436,822 Selling, Gen. & Admin. Exp. 2,674,747 2,727,393 8,915,294 10,234,024 Interest 144,187 169,419 590,806 661,880 Restructuring Costs 285,000 197,879 414,017 831,862 Other * (12,157) (55,491) (2,407,890) (60,854) Total Expenses 3,091,777 3,039,200 7,512,227 11,666,912 Earnings Before Income Taxes (2,893,694) (959,126) (3,910,464) (3,230,090) Income Taxes/Benefit 0 531,000 0 531,000 Net Income/Loss (2,893,694) (1,490,126) (3,910,464) (3,761,090) Preferred Dividend (18,750) 0 (62,292) 0 Net Earnings/(Loss) Available to Common Shareholders $(2,912,444) $(1,490,126) $(3,972,756) $(3,761,090) Earnings/Loss Per Share Basic $(0.93) $(0.47) $(1.27) $(1.20) Shares Outstanding 3,139,737 3,139,737 3,139,737 3,139,737 * Includes $2,378,390 gain on the sale of the Vultron building. Consolidated Balance Sheet (Unaudited) Fourth Quarter Ending December 31 Assets: 2004 2003 Total Current Assets $12,062,414 $17,224,345 Net Fixed Assets 2,040,115 3,753,732 Other Assets 1,626,471 186,440 Total Assets $15,729,000 $21,164,517 Liabilities and Shareholders' Equity: Total Current Liabilities $11,531,718 $15,713,505 Deferred Income Taxes 0 0 Long Term Debt 1,735,000 296,669 Shareholders' Equity 2,462,282 5,154,343 Total Liabilities and Shareholders' Equity $15,729,000 $21,164,517 DATASOURCE: Trans-Industries, Inc. CONTACT: Kai Kosanke, Chief Financial Officer of Trans-Industries, Inc., +1-248-364-0400 Web site: http://www.transindustries.com/

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