Welcome!

News Feed Item

Trans-Lux Reports Third Quarter Results

NEW YORK, NY -- (Marketwired) -- 02/14/14 -- Trans-Lux Corporation (OTCQB: TNLX) ("Trans-Lux" or the "Company"), a leading supplier of Digital Displays and next generation LED lighting, reported financial results for the third quarter ended September 30, 2013 on February 14, 2014. Trans-Lux President and Chief Executive Officer J.M. Allain made the announcement.

Third Quarter 2013
Trans-Lux reported revenues for the three months ending September 30, 2013 of $6.2 million, up from $5.9 million for the three months ending September 30, 2012. The Company recorded income of $168,000 ($0.16 per share) during the third quarter of 2013, compared to income of $196,000 ($0.19 per share) reported for the same three month period in 2012. The three months ended September 30, 2013 results include a $296,000 benefit for warrant valuation adjustment. The three months ended September 30, 2012 results included a $1.4 million benefit for warrant valuation adjustment.

"We are beginning to reap the rewards from the changes to our TL Energy LED lighting division as sales opportunities are increasing," said Mr. Allain. "New revenue streams and backlog from this product line have us positioned for tremendous growth. In fact, our current backlog is the highest it has ever been."

Nine Months Ended September 30, 2013
Trans-Lux reported revenues for the nine months ending September 30, 2013 of $15.1 million, down from $18.4 million for the nine months ending September 30, 2012. The Company incurred a loss of $859,000 (loss of $0.84 per share) during the first nine months of 2013, compared to a $735,000 loss (loss of $1.52 per share) reported for the same nine month period in 2012. The nine months ended September 30, 2013 results include a $960,000 benefit for warrant valuation adjustment, a loss of $348,000 on the sale of receivables and a $1.0 million gain from the sale of land in discontinued operations. The nine months ended September 30, 2012 results included a $3.3 million benefit for warrant valuation adjustment.

"Strategic partnerships have brought us recent major sales opportunities and wins in the sports sector of our TL Vision product," said Mr. Allain. "Combined with our previous general and administrative cost reductions, we are beginning to capitalize on these great opportunities. We are very pleased with our 4th quarter as well as the 1st quarter 2014 to date."

For more information, email [email protected] 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   NINE MONTHS ENDED
                                        SEPTEMBER 30        SEPTEMBER 30

(In thousands, except per share
 data)                                 2013      2012      2013      2012
                                    ---------  --------  --------  --------

Revenues                            $   6,204  $  5,921  $ 15,087  $ 18,362
                                    ---------  --------  --------  --------

Income (loss) from continuing
 operations                         $     168  $    239  $ (1,882) $   (565)
Income (loss) from discontinued
 operations                                 -       (43)    1,023      (170)
                                    ---------  --------  --------  --------
Net income (loss)                   $     168  $    196  $   (859) $   (735)
                                    ---------  --------  --------  --------

Calculation of EBITDA (1):
  Net income (loss) from continuing
   operations                       $     168  $    239  $ (1,882) $   (565)
  Interest expense, net                    15        90        98       184
  Income tax expense                        8         7        24        21
  Depreciation and amortization           905     1,102     2,714     3,102
                                    ---------  --------  --------  --------
Total EBITDA from continuing
 operations                             1,096     1,438       954     2,742
  Effect of discontinued operations         -       (43)    1,023      (170)
                                    ---------  --------  --------  --------
Total EBITDA                        $   1,096  $  1,395  $  1,977  $  2,572
                                    =========  ========  ========  ========

Earnings (loss) per share - basic
 and diluted
  Continuing operations             $    0.16  $   0.23  $  (1.84) $  (1.17)
  Discontinued operations                   -     (0.04)     1.00     (0.35)
                                    ---------  --------  --------  --------
  Total earnings (loss) per share   $    0.16  $   0.19  $  (0.84) $  (1.52)
                                    =========  ========  ========  ========

Average common shares outstanding -
 basic and diluted                      1,023     1,020     1,021       482
                                    ---------  --------  --------  --------

(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:
Todd Dupee
Vice President & CFO
Email Contact
212.897.9955

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
When NSA's digital armory was leaked, it was only a matter of time before the code was morphed into a ransom seeking worm. This talk, designed for C-level attendees, demonstrates a Live Hack of a virtual environment to show the ease in which any average user can leverage these tools and infiltrate their network environment. This session will include an overview of the Shadbrokers NSA leak situation.
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...
The 21st International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that Tintri, Inc, a leading provider of enterprise cloud infrastructure, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Tintri offers an enterprise cloud platform built with public cloud-like web services and RESTful APIs. Organizations use Tintri all-flash storage with scale-out and automation as a foundation for their own clouds – to build agile development environments...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...