Trans-Industries, Inc. Reports First Quarter 2004 Results
08 5월 2004 - 6:15AM
PR Newswire (US)
Trans-Industries, Inc. Reports First Quarter 2004 Results ROCHESTER
HILLS, Mich., May 7 /PRNewswire-FirstCall/ -- Trans-Industries,
Inc. , 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, 2004. Sales for the quarter totaled $7.5 million compared with
$8.6 million for the same period last year. Most of this decline
was attributable to the information systems and environmental
systems businesses with modest shortfalls registered by the
lighting and mechanical signage units. On this reduced volume, a
net loss of $267,000, or $.09 per share, was incurred compared with
a loss of $473,000, or $0.15 per share, for the comparable quarter
last year. For the 2004 first quarter, the information systems and
environmental products operations together recorded a net loss of
more than $500,000, which was only partially offset by other
operations. Profit improvement efforts initiated during the middle
of last year are continuing with estimated annual reductions, on
the basis of first quarter expense levels, to be in excess of $2.5
million. 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. Visit
Trans-Industries at http://www.transindustries.com/ . Financial
Tables Follow ..... Trans-Industries, Inc. Sales and Earnings
Report (Unaudited) Quarter Ended March 31, 2004 First Quarter
Ending March 31 2004 2003 Sales $7,534,929 $8,649,800 Cost of Sales
5,605,874 6,058,931 Gross Profit 1,929,055 2,590,869 Selling, Gen.
& Admin. Exp. 1,965,333 2,638,388 Interest 162,508 170,049
Restructuring Costs * 75,601 272,859 Other (6,931) (9) Total
Expenses 2,196,511 3,081,287 Earnings/(Loss) Before Income Taxes
(267,456) (490,418) Income Taxes 0 (17,000) Net Income $(267,456)
$(473,418) Earnings/(Loss) Per Share $(0.09) $(0.15) *2003
Restructuring charges incurred on sale of Vultron International.
Weighted Average Number of Shares Outstanding 3,139,737 3,139,737
Consolidated Balance Sheet (Unaudited) First Quarter Ending March
31 Assets: 2004 2003 Total Current Assets $15,843,592 $20,490,476
Net Fixed Assets 3,553,755 4,020,663 Other Assets 327,014 283,822
Total Assets $19,724,361 $24,794,961 Liabilities and Shareholders'
Equity: Total Current Liabilities $13,260,300 $12,731,121 Deferred
Income Taxes 0 418,000 Long Term Debt 294,173 3,216,884
Shareholders' Equity 6,169,888 8,428,956 Total Liabilities and
Shareholders' Equity $19,724,361 $24,794,961 DATASOURCE:
Trans-Industries, Inc. CONTACT: Kai Kosanke, Chief Financial
Officer of Trans-Industries, +1-248-852-1990 Web site:
http://www.transindustries.com/
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