NEW YORK, NY, April 1, 2014– Trans-Lux Corporation (OTCQB: TNLX), a leading supplier of LED technology for high resolution video displays and lighting applications, today filed a Form 12b-25 to report notification of late filing for its reported financial results for the year ended December 31, 2013. Trans-Lux President and Chief Executive Officer J.M. Allain made the announcement. “The relocation of the Company’s headquarters and an upgrade to new accounting software in recent months has delayed the compilation of information needed to prepare a timely filing, and to allow our auditors an adequate time period in order to fully audit our financial statements,” stated Mr. Allain. The auditors are continuing to complete their audit and the Company intends to file the full results on or before the fifteenth calendar day following the prescribed due date, as required in accordance with SEC rules.
Initial Brief Report on Results for Year Ended December 31, 2013
Subject to the completion of our audit by our independent registered public accountants, the Company reports that it had cash flow from continuing operations, as defined by EBITDA, of $2.3 million for the year ended December 31, 2013. For the fourth quarter of 2013, the company recorded EBITDA of $312,000.
“We continue to execute our strategic business plan and to strive to reach our objectives. This quarter is the first where we believe we show real progress within the LED lighting space, and we continue to be very optimistic on our prospects going forward,” said Mr. Allain.
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, 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.