0000099106-11-000008.txt : 20110517
0000099106-11-000008.hdr.sgml : 20110517
20110517150026
ACCESSION NUMBER: 0000099106-11-000008
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20110516
ITEM INFORMATION: Results of Operations and Financial Condition
ITEM INFORMATION: Financial Statements and Exhibits
FILED AS OF DATE: 20110517
DATE AS OF CHANGE: 20110517
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: 11851156
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
tx8k051711.txt
FORM 8-K DATED MAY 17, 2011
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
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Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 16, 2011
TRANS-LUX CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-2257 13-1394750
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
26 Pearl Street, Norwalk, CT 06850-1647
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(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 May 16, 2011, Trans-Lux Corporation issued a press release
announcing results of operations for the three months ended March
31, 2011 and going concern qualification. 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 May 16, 2011.
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: May 17, 2011
EX-99.1
2
release1stquarterresults11.txt
RESULTS FOR 1ST QUARTER ENDED MARCH 31, 2011
TRANSLUX logo
FOR IMMEDIATE RELEASE
Contact: Angela D. Toppi
Executive Vice President & CFO
atoppi@trans-lux.com
203.642.5903
TRANS-LUX REPORTS FIRST QUARTER RESULTS
NORWALK, CT, May 16, 2011 - Trans-Lux Corporation (OTC: TNLX), a leading
supplier of programmable electronic information displays and next generation LED
lighting, today reported financial results for the first quarter ended March 31,
2011. Trans-Lux President and Chief Executive Officer J.M. Allain made the
announcement.
Revenues for the first quarter 2011 totaled $4.9 million, down from $5.4 million
for the first quarter 2010. Trans-Lux recorded a net loss for the first quarter
2011 of $1.7 million (loss of $0.68 per share), compared with a net loss of $1.4
million (loss of $0.59 per share) for the same period in the prior year. The
Company recorded an additional $70,000 restructuring charge for the first
quarter 2011. The Company recorded an increase in bad debt expense in the
current period, which is reflected in the increase in general and administrative
expenses for the first quarter 2011. EBITDA for the first quarter 2011 is a
negative $155,000 compared with a positive $386,000 in the same 2010 period.
"The first quarter results reflect reduced revenue and gross profit, but an
improvement in our gross profit margin," said Mr. Allain. "The financial
markets and other markets we serve remain challenged and margins continue to be
under pressure, but our ability to deliver new LED digital signage solutions and
LED lighting products should help further drive our business momentum."
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. For more information, please visit our web
site at www.trans-lux.com.
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(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 / 3
TRANS-LUX CORPORATION
TABLE OF OPERATIONS
(Unaudited)
THREE MONTHS ENDED
MARCH 31
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(In thousands, except per share data) 2011 2010
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Revenues $ 4,917 $ 5,386
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Net loss $(1,670) $(1,420)
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Calculation of EBITDA:
Net loss $(1,670) $(1,420)
Interest expense, net 361 418
Income tax expense 7 14
Depreciation and amortization 1,147 1,374
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Total EBITDA (1) $ (155) $ 386
==================
Loss per share - basic and diluted $ (0.68) $ (0.59)
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Average common shares outstanding - basic and diluted 2,443 2,393
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(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.