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
Join Impiger for their featured webinar: ‘Cloud Computing: A Roadmap to Modern Software Delivery’ on November 10, 2016, at 12:00 pm CST. Very few companies have not experienced some impact to their IT delivery due to the evolution of cloud computing. This webinar is not about deciding whether you should entertain moving some or all of your IT to the cloud, but rather, a detailed look under the hood to help IT professionals understand how cloud adoption has evolved and what trends will impact th...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and G...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices 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 business opportunity. Submit your speaking proposal ...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...