Trans-Lux Reports Improved First Quarter Results
June 18 2014 - 4:14PM
Marketwired
Trans-Lux Reports Improved First Quarter Results
NEW YORK, NY--(Marketwired - Jun 18, 2014) - Trans-Lux
Corporation (PINKSHEETS: TNLX) ("Trans-Lux" or the "Company"), a
leading supplier of Digital Displays and next generation LED
lighting, reported financial results for the quarter ended March
31, 2014 on June 18, 2014. Trans-Lux President and Chief
Executive Officer J.M. Allain made the announcement.
First Quarter 2014 Trans-Lux reported revenues for the three
months ended March 31, 2014 of $6.5 million, up from $4.1 million
for the three months ended March 31, 2013. Revenues for the
first quarter of 2014 included a digital display for the Charlotte
Knights new AAA baseball stadium completed as a partnership with
Toshiba, as well as a few digital displays for World Cup venues in
Brazil. EBITDA from continuing operations for the quarter
improved to $697,000 as compared to negative EBITDA from continuing
operations of $375,000 in the same quarter of 2013. Loss from
continuing operations for the first quarter of 2014 was reduced to
$162,000 (loss of $0.15 per share), compared with a loss from
continuing operations of $1.3 million (loss of $1.30 per share) in
the first quarter of 2013. Higher digital display revenues and
lower general and administrative expenses are the primary reasons
for the improvements.
"We now have an LED Lighting company that is producing revenue
with a new line of LED displays, which is creating a stronger
pipeline for our business," said Mr. Allain. "I believe the
remainder of 2014 will be a busy and challenging year for Trans-Lux
as we continue to unlock new opportunities and work with our Board
of Directors to strengthen our balance sheet."
For more information, email info@trans-lux.com or visit
www.trans-lux.com.
About Trans-Lux Trans-Lux Corporation is a leading designer and
manufacturer of TL Vision digital video displays and TL Energy LED
lighting solutions for the financial, sports and entertainment,
gaming, education, government, and commercial markets. With a
comprehensive offering of LED Large Screen Systems, LCD Flat Panel
Displays, Data Walls and scoreboards (marketed under Fair-Play by
Trans-Lux), Trans-Lux delivers comprehensive video display
solutions for any size venue's indoor and outdoor display needs. TL
Energy enables organizations to greatly reduce energy related costs
with green lighting solutions. For more information please visit
www.Trans-Lux.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 This news release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities and Exchange
Act of 1934, as amended. Forward-looking statements such as "will,"
"believe," "are projected to be" and similar expressions are
statements regarding future events or the future performance of
Trans-Lux Corporation, and include statements regarding projected
operating results. These forward-looking statements are based on
current expectations, forecasts and assumptions and involve a
number of risks and uncertainties that could cause actual results
to differ materially from those anticipated by these
forward-looking statements.
| |
|
|
|
|
|
|
| TRANS-LUX CORPORATION |
|
| |
|
|
|
|
|
|
| RESULTS OF OPERATIONS |
|
| (Unaudited) |
|
| |
|
|
|
|
|
|
| |
|
THREE MONTHS ENDED |
|
| |
|
MARCH 31 |
|
| |
|
|
|
|
|
|
| (In thousands, except per share data) |
|
2014 |
|
|
2013 |
|
| |
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
6,464 |
|
|
$ |
4,096 |
|
| |
|
|
|
|
|
|
|
|
| Loss from continuing operations |
|
$ |
(162 |
) |
|
$ |
(1,326 |
) |
| Income from discontinued operations |
|
|
- |
|
|
|
1,022 |
|
| Net loss |
|
$ |
(162 |
) |
|
$ |
(304 |
) |
| |
|
|
|
|
|
|
|
|
| Calculation of EBITDA (1): |
|
|
|
|
|
|
|
|
| |
Net
loss from continuing operations |
|
$ |
(162 |
) |
|
$ |
(1,326 |
) |
| |
Interest expense, net |
|
|
70 |
|
|
|
41 |
|
| |
Income tax expense |
|
|
6 |
|
|
|
8 |
|
| |
Depreciation and amortization |
|
|
783 |
|
|
|
902 |
|
| Total EBITDA from continuing operations |
|
|
697 |
|
|
|
(375 |
) |
| |
Effect of discontinued operations |
|
|
- |
|
|
|
1,022 |
|
| Total EBITDA |
|
$ |
697 |
|
|
$ |
647 |
|
| |
|
|
|
|
|
|
|
|
| (Loss) earnings per share - basic and diluted |
|
|
|
|
|
|
|
|
| |
Continuing operations |
|
$ |
(0.15 |
) |
|
$ |
(1.30 |
) |
| |
Discontinued operations |
|
|
- |
|
|
|
1.00 |
|
| |
Total
loss per share |
|
$ |
(0.15 |
) |
|
$ |
(0.30 |
) |
| |
|
|
|
|
|
|
|
|
| Average common shares outstanding - basic and
diluted |
|
|
1,051 |
|
|
|
1,020 |
|
| |
|
|
|
|
|
|
|
|
|
(1) |
EBITDA is defined as earnings before effect of interest, income
taxes, depreciation and amortization. EBITDA is presented here
because it is a widely accepted financial indicator of a company's
ability to service and/or incur indebtedness. However, EBITDA
should not be considered as an alternative to net income or cash
flow data prepared in accordance with accounting principles
generally accepted in the United States or as a measure of a
company's profitability or liquidity. The Company's measure of
EBITDA may not be comparable to similarly titled measures reported
by other companies. |
|
|
|
Contact: Robert J. Conologue Chief Financial Officer Email
Contact 800-243-5544
Trans Lux (PK) (USOTC:TNLX)
Historical Stock Chart
From Dec 2024 to Jan 2025
Trans Lux (PK) (USOTC:TNLX)
Historical Stock Chart
From Jan 2024 to Jan 2025
