Trans-Lux Reports Second Quarter Results
(firmenpresse) - NORWALK, CT -- (Marketwire) -- 11/05/12 -- Trans-Lux Corporation, a leading supplier of programmable electronic information displays and next generation LED lighting, reported financial results for the second quarter ended June 30, 2012 on Wednesday, October 31, 2012. Trans-Lux President and Chief Executive Officer J.M. Allain made the announcement.
Revenues for the second quarter of 2012 totaled $6.8 million, compared with $5.1 million for the second quarter of 2011. Trans-Lux recorded income for the second quarter of $0.7 million ($0.13 per share), compared with a loss of $1.6 million (loss of $0.67 per share) in the second quarter of 2011. The second quarter results include a $1.8 million benefit for the warrant valuation adjustment and a $0.2 million additional restructuring charge. EBITDA for the current second quarter is $1.8 million, compared with negative EBITDA of $0.1 million in 2011.
"Trans-Lux continues to make a definite move forward relative to both our financials and market presence. Our second quarter results show increased gross profit margins due to sweeping changes we've made to streamline operational efficiencies and reduce operating costs," said Mr. Allain. "Although some of the traditional markets we serve continue to face economic challenges, we anticipate that our new LED video displays and lighting products will continue to drive new business opportunities with both our existing customer base and in new vertical market categories. These results show our competitors and customers that we can compete toe-to-toe and win."
Trans-Lux reported revenues for the six-month period ending June 30, 2012 of $12.5 million, up from $10.0 million for the six-month period ending June 30, 2011. Trans-Lux incurred a loss of $0.9 million (loss of $0.18 per share) during the first six months of 2012, versus the $3.3 million loss (loss of $1.35 per share) reported for the same six-month period in 2011. The six months ended June 30, 2012 results include a $1.9 million benefit for the warrant valuation adjustment and a $0.2 million additional restructuring charge. EBITDA for the current six-month period is $1.3 million, compared with negative EBITDA of $0.3 million during the same six-month period in 2011.
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 .
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.
Contact:
Sami Sassoun
Senior Vice President & CFO
203.642.5903
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Datum: 05.11.2012 - 15:34 Uhr
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News-ID 1167354
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