CHARLOTTE, N.C.--(BUSINESS WIRE)--Oct. 18, 2005--Transbotics Corporation (OTCBB:TNSB) announced results for its fiscal quarter ended August 31, 2005. Net revenues increased to $2,310,814 compared to $1,605,018 for the fiscal quarter ended August 31, 2004. The Company recognized net income for the third quarter in 2005 of $106,451 compared to a net loss of $60,868 in the comparable quarter of 2004. The difference in income was primarily due to the increase in revenues and lower selling expenses compared to the prior year.
Net revenues for the nine-month period ended August 31, 2005, increased from $3,987,891 in the third quarter of 2004 to $6,213,398 in the latter period. Net income increased to $220,723 in the third quarter of 2005 from a net loss of $373,223 in 2004. The Company's gross profit increased and its operating expenses decreased in 2005 compared to 2004, which were primary reasons for the increase in the net income.
Earnings per share was $.02 for the most recent fiscal quarter compared to a loss per share of $.01 in the comparable quarter of 2004, and earnings of $.05 per share for the most recent nine month period compared to a loss per share of $.08 for the corresponding period in 2004.
On August 31, 2005, the Company's backlog was approximately $3,010,000 compared to approximately $3,870,000 one year earlier.
For over 20 years Transbotics Corporation has specialized in the design, development, support and installation of automation solutions with an emphasis on Automatic Guided Vehicles (AGVs). The Company is a leading North American automation solutions integrator that manufactures, installs and supports various automation technologies including AGVs, robotics, batteries, chargers, motors and other related products.
Transbotics provides unique automation solutions to a variety of industries, including, automotive (tier one supplier), entertainment, food and beverage, printing, and plastics. Transbotics' current customers include Fortune 500 companies as well as small manufacturing companies.
This release (including information or incorporated by reference herein) may be deemed to contain certain forward-looking statements, with respect to the financial condition, results of operation, plans, objectives, future performance and business of the Company. These forward-looking statements involve certain risk, including, without limitation, the uncertainties detailed in Transbotics Corporation Securities and Exchange Commission filings.
TRANSBOTICS CORPORATION
CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended Nine Months Ended
August 31, August 31, August 31, August 31,
2005 2004 2005 2004
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Net revenues $2,310,814 $1,605,018 $6,213,398 $3,987,891
Cost of goods sold 1,729,782 1,107,498 4,512,936 2,730,246
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Gross profit 581,032 497,520 1,700,462 1,257,645
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Operating expenses:
Selling 102,351 174,844 399,416 498,166
General and
administrative 299,169 280,802 891,029 892,202
Research and
development 63,216 96,774 164,430 223,930
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464,736 552,420 1,454,875 1,614,298
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Operating income
(loss) 116,296 (54,900) 245,587 (356,653)
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Net interest expense: (9,845) (5,968) (24,864) (16,570)
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Income (loss) before
income taxes 106,451 (60,868) 220,723 (373,223)
Federal and state
income taxes (Note B) - - - -
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Net income (loss) $106,451 $(60,868) $220,723 $(373,223)
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Weighted average number
of common:
shares outstanding-
basic 4,827,451 4,814,951 4,826,389 4,802,840
shares outstanding-
diluted 5,211,002 4,814,951 5,246,795 4,802,840
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Income (loss) per common
share - basic (Note C) $ 0.02 $ (0.01) $ 0.05 $ (0.08)
Income (loss) per common
share - diluted (Note
C) 0.02 (0.01) 0.04 (0.08)
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Dividends per common
share $ - $ - $ - $ -
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See Notes to the Company's Condensed Financial Statements on FORM
10-QSB
