T.J.T., Inc. Reports Results for Q3 Fiscal 2014
EMMETT, Idaho -- July 11, 2014
T.J.T., Inc. (the Company) (Pink Sheets:AXLE), a supplier of axles, tires, and
set-up materials to the manufactured housing industry, announced a net profit
of $35,384, or $.01 per diluted share, for the third quarter of fiscal year
2014. The quarterly results represent an improvement of $38,077 over the third
quarter of the prior year when the Company reported a net loss of $2,692. Year
over year reductions in SG&A expenses as a percentage of net sales,
contributed to the improvement in quarterly financial results.
Net sales in the third quarter increased 61 percent to $1,528,135 compared to
sales of $949,437 during the third quarter of the prior year. Net sales of
axles and tires totaled $914,022, an increase of 103 percent from $449,794 in
axle and tire sales in the third quarter of the prior year. Net sales of
accessories totaled $613,213 which is a 24 percent increase from $494,502 in
sales of accessories during the third quarter of the prior year. Gross margin
held steady at 30 percent during the third quarter of 2014 compared to 30
percent in the same quarter of 2013.
President and CEO Terry Sheldon commented on the third quarter results by
saying, “We are very pleased to report another profitable quarter for T.J.T.,
Inc. We look forward to continuing to improve the operational results as we
enter the summer and fall quarters.”
Established in 1977, T.J.T., Inc. is a major provider of recycled axles and
tires to the manufactured housing industry. It operates recycling facilities
in Idaho and California and serves eight western states. In addition to the
recycling business, T.J.T. also sells aftermarket products to manufactured
housing, recreational vehicle, and residential markets.
This release contains certain forward-looking statements, which are based on
management’s current expectations including, but not limited to, general
economic conditions, changes in interest rates, deposit flows, real estate
values, competition, and changes in legislation or regulations, and other
economic, competitive, governmental, regulatory, and technological factors
affecting the Company’s operations, pricing, products, and services. Any
forward looking statement speaks only as of the date on which the statement is
made, and the Company undertakes no obligation to update any forward looking
Copies of this report and additional historical financial information can be
found at www.otcmarkets.com and on the Company website at www.tjtusa.com.
Paul G. Smith, 208-472-2500
Chief Financial Officer and Treasurer
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