TRANS-LUX REPORTS FIRST QUARTER 2010 RESULTS
NORWALK, CT, May 20, 2010 – Trans-Lux Corporation (NYSE Amex: TLX), a leading supplier of LED digital signage solutions and LED lighting products, today reported financial results for the first quarter ended March 31, 2010. Trans-Lux President and Chief Executive Officer J.M. Allain made the announcement.
Revenues totaled $5.4 million for the first quarter, compared with $7.8 million during the same period last year. Trans-Lux recorded a net loss for the quarter of $1.4 million (-$0.59 per share), compared with a loss of $1.2 million (-$0.50 per share) in the prior year. Cash flow, as defined by EBITDA, was $389,000, compared with $807,000 in the same 2009 period. General administrative expenses were down for the quarter from last year as a result of reduced operating costs and depreciation expense.
“The first quarter results reflect a slight improvement in revenue over the preceding quarter ended December 31, 2009, signaling a guarded but optimistic start to the new fiscal year,” said Mr. Allain. “Although financial markets remain challenged and margins continue to be under pressure, our ability to deliver new LED digital signage solutions and LED lighting products should help further drive our business momentum.”
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.