NEWS FROM EXHIBIT 99.1
TRANS-INDUSTRIES
Trans-Industries, Inc. - 1780 Opdyke Ct. - Auburn Hills, MI 48326
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FOR FURTHER INFORMATION:
AT TRANS-INDUSTRIES:
Kai Kosanke
Chief Financial Officer
(248) 364-0400
FOR IMMEDIATE RELEASE
FRIDAY MAY 13, 2005
TRANS-INDUSTRIES, INC. REPORTS
FIRST QUARTER 2005 RESULTS
AUBURN HILLS, MICHIGAN - MAY 13, 2005 - TRANS-INDUSTRIES, INC. (NASDAQ: TRNI), a
leading manufacturer of interior bus lighting products, electronic information
systems and software, plus dust extraction systems and related components for
the mass transit and highway markets, today announced results for the first
quarter ended March 31, 2005.
Sales for the quarter totaled $5.3 million compared with $7.5 million for the
same period last year. Most of this decline was attributable to decreased sales
of the Company's lighting products and its digital display products. On this
reduced volume, a net loss of $911,000, or $.29 per share, was incurred compared
with a loss of $267,000 or $0.09 per share, for the comparable quarter last
year. The reduction in lighting products revenues is a result of reduced transit
bus production, lower demand for the Company's modular parcel racks, and market
acceptance of a competitor's product. Reduced sales of digital display products
were primarily attributable to reduced sales of overhead highway signs. Sales of
dust abatement equipment recorded a moderate increase of $348,000 for the first
quarter of 2005 compared to the same quarter of 2004.
The Company continues to focus on improving profitability and cash flow by
reducing corporate management expenses, matching the workforce size to sales
volumes, and reducing fixed costs through manufacturing plant consolidations.
The Company's strategic market refocusing has begun to create some new orders
and new customers.
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ABOUT THE COMPANY:
The Company is a leading provider of lighting systems and related components to
the mass transit market as well as a supplier of information hardware and
software solutions on Intelligent Transportation Systems (ITS) and mass transit
projects. ITS utilizes integrated networks of electronic sensors, signs and
software to monitor road conditions, communicate information to drivers and help
transportation authorities better manage traffic flow across their existing
infrastructures.
Forward-Looking Statements:
Except for statements of historical fact, this news release contains certain
forward-looking statements about the Company. Such statements are subject to
significant risks and uncertainties including changes in economic and market
conditions, management of growth, and other risks noted in the Company's SEC
filings, which may cause actual results to differ materially.
VISIT TRANS-INDUSTRIES AT www.transindustries.com
FINANCIAL TABLES FOLLOW.....
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TRANS-INDUSTRIES, INC.
SALES AND EARNINGS REPORT (UNAUDITED)
QUARTER ENDED MARCH 31, 2005
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FIRST QUARTER ENDING
MARCH 31
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2005 2004
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Sales $ 5,269,183 $ 7,534,929
Cost of Sales 4,175,441 5,605,874
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Gross Profit 1,093,742 1,929,055
Selling, Gen. & Admin. Exp. 1,869,752 1,965,333
Interest 120,824 162,508
Restructuring Costs 0 75,601
Other (19,990) (6,931)
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Total Expenses 1,970,586 2,196,511
Earnings/(Loss) Before Income Taxes (876,844) (267,456)
Income Taxes/(Benefit) 0 0
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Net Income/(Loss) (876,844) (267,456)
Preferred Dividend (33,716) 0
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Net Earnings/(Loss) Available to Common Shareholders $ (910,560) $ (267,456)
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Earnings/(Loss) Per Share $ (0.29) $ (0.09)
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Weighted Average Number of Shares Outstanding 3,139,737 3,139,737
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CONSOLIDATED BALANCE SHEET (UNAUDITED)
FIRST QUARTER ENDING
MARCH 31
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ASSETS: 2005 2004
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Total Current Assets $ 10,708,060 $ 15,843,592
Net Fixed Assets 1,885,191 3,553,755
Other Assets 1,561,542 544,013
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Total Assets $ 14,154,793 $ 19,941,360
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LIABILITIES AND SHAREHOLDERS' EQUITY:
Total Current Liabilities $ 10,928,323 $ 13,260,300
Long Term Debt 175,415 294,173
Shareholders' Equity 3,051,055 6,386,887
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Total Liabilities and Shareholders' Equity $ 14,154,793 $ 19,941,360
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