-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TTR68vUT9pnOW9Yhz4LD12Yb3FQ748EzGEridqiZvdvWk7WQ8QSF136xMz/hy3IH 7oQzvfpEjh57mBaMS2HNqQ== 0000099106-10-000060.txt : 20101116 0000099106-10-000060.hdr.sgml : 20101116 20101115180628 ACCESSION NUMBER: 0000099106-10-000060 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20101115 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20101116 DATE AS OF CHANGE: 20101115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TRANS LUX CORP CENTRAL INDEX KEY: 0000099106 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS MANUFACTURING INDUSTRIES [3990] IRS NUMBER: 131394750 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02257 FILM NUMBER: 101194477 BUSINESS ADDRESS: STREET 1: 26 PEARL STREET CITY: NORWALK STATE: CT ZIP: 06850-1647 BUSINESS PHONE: 2038534321 MAIL ADDRESS: STREET 1: 26 PEARL STREET CITY: NORWALK STATE: CT ZIP: 06850-1647 8-K 1 tx8k111510.txt FORM 8-K DATED NOVEMBER 15, 2010 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT -------------- Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 15, 2010 TRANS-LUX CORPORATION --------------------- (Exact name of registrant as specified in its charter) Delaware 1-2257 13-1394750 - ------------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 26 Pearl Street, Norwalk, CT 06850-1647 --------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (203) 853-4321 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02 Results of Operations and Financial Condition On November 15, 2010, Trans-Lux Corporation issued a press release announcing results of operations for the three and nine months ended September 30, 2010. A copy of the press release is furnished (not filed) as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits (d) Exhibits. 99.1 Press release dated November 15, 2010. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized: TRANS-LUX CORPORATION by: /s/ Angela D. Toppi --------------------------- Angela D. Toppi Executive Vice President and Chief Financial Officer by: /s/ Todd Dupee --------------------------- Todd Dupee Vice President and Controller Dated: November 15, 2010 EX-99.1 2 release3rdquarterresults10.txt RESULTS FOR 3RD QUARTER ENDED SEPTEMBER 30, 2010 Exhibit 99.1 TRANS-LUX LOGO FOR IMMEDIATE RELEASE Contact: Angela D. Toppi Executive Vice President & CFO atoppi@trans-lux.com 203.642.5903 TRANS-LUX REPORTS THIRD QUARTER RESULTS NORWALK, CT, November 15, 2010 - Trans-Lux Corporation (NYSE Amex: TLX), a leading supplier of programmable electronic information displays, today reported financial results for the third quarter ended September 30, 2010. Trans-Lux President and Chief Executive Officer J.M. Allain made the announcement. Third Quarter 2010 For the third quarter of 2010, Trans-Lux reported revenues of $7.1 million, compared with $8.0 million during the same period last year. A loss of $1.2 million for the quarter (-$0.50 per share) was recorded versus a loss of $782,000 (-$0.34 per share) in the third quarter of the previous year. Total EBITDA for the current third quarter is $477,000, compared with last year's third quarter result of $1.2 million. "Our focus remains on strengthening our financial position through on-going restructuring efforts while continuing to concentrate on our long-term sales and marketing objectives," said Mr. Allain. "The first nine months of the year have been characterized by a slower than anticipated economic recovery, but our sales have consistently increased from quarter to quarter over the year. This is a positive indication of the success of our expanded product line offering of next generation digital signage and display solutions." Nine Months Ended September 30, 2010 Trans-Lux reported revenues for year to date, ending September 30, 2010, totaling $18.7 million with a loss of $5.3 million (-$2.16 per share), compared to revenues for the same nine-month period last year of $23.2 million with a reported loss of $5.7 million (-$2.49 per share). This year's loss includes the $1.1 million restructuring charge and the $0.5 million charge to write-off engineering software. The prior year's loss includes the write-off of a $2.7 million note receivable related to the former Norwalk, CT facility that the Company sold in 2004. Total EBITDA for the period is a negative $41,000 compared to a positive $202,000 for the comparable previous nine-month period. Without the restructuring charge and write-offs, EBITDA would have been a positive $1.5 million for the nine months ended September 30, 2010, compared with a positive $2.9 million for the same period in 2009. About Trans-Lux Trans-Lux Corporation is a leading designer and manufacturer of digital signage display solutions for the financial, sports and entertainment, gaming and leasing markets. With a comprehensive offering of LED Large Screen Systems, Fair-Play branded Scoreboards, and Trans-Lux Energy LED lighting solutions, Trans-Lux delivers comprehensive digital signage solutions for any size venue's indoor and outdoor display needs. (Table of Operations attached) ### Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 The Company may, from time to time, provide estimates as to future performances. These forward-looking statements will be estimates and may or may not be realized by the Company. The Company undertakes no duty to update such forward-looking statements. Many factors could cause actual results to differ from these forward-looking statements, including loss of market share through competition, introduction of competing products by others, pressure on prices from competition or purchasers of the Company's products, interest rate and foreign exchange fluctuations, terrorist acts and war. TRANS-LUX CORPORATION RESULTS OF OPERATIONS (Unaudited) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30 SEPTEMBER 30 (In thousands, except per share data) 2010 2009 2010 2009 - --------------------------------------------------------------------------------- Revenues $ 7,079 $8,006 $18,738 $23,218 ------------------------------------------ Net loss $(1,230) $ (782) $(5,255) $(5,741) ------------------------------------------ Calculation of EBITDA: Net loss $(1,230) $ (782) $(5,255) $(5,741) Interest expense, net 380 417 1,163 1,262 Income tax expense 14 50 42 142 Depreciation and amortization 1,313 1,514 4,009 4,539 ------------------------------------------ Total EBITDA (1) $ 477 $1,199 $ (41) $ 202 ------------------------------------------ Loss per share - basic and diluted $ (0.50) $(0.34) $ (2.16) $ (2.49) ------------------------------------------ Average common shares outstanding - basic and diluted 2,443 2,307 2,434 2,307 - --------------------------------------------------------------------------------- (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.
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