CHARLOTTE, N.C.--(BUSINESS WIRE)--Transbotics Corporation (OTCBB:TNSB) announced results for its
fiscal quarter ended August 31, 2006. Net revenues decreased to
$1,996,800 compared to $2,310,814 for the fiscal quarter ended August
31, 2005. The Company achieved net income for the third quarter in 2006
of $88,085 compared to a net income of $106,451 in 2005. The decrease in
net income was primarily due to the increase in operating expenses
compared to the prior year.
Net revenues for the nine months period ended August 31, 2006 increased
from $6,213,398 in 2005 to $6,353,906 in the latter period. Net income
decreased to $101,629 in 2006 from a net income of $220,723 in 2005. The
primary reason for the decrease in the net income was that the Company’s
operating expenses increased in 2006 compared to 2005.
Earnings per share were $.02 for the most recent fiscal quarter compared
to earnings per share of $.02 in 2005, and earnings were $.02 per share
for the most recent nine-month period compared to earnings per share of
$.05 for the corresponding period in 2005.
On August 31, 2006, the Company’s backlog
increased to approximately $3,540,000 compared to approximately
$3,010,000 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,
software, robots, batteries, chargers, motors and other related products.
Transbotics provides its Tailor-Made™
automation solutions to a variety of industries, including aerospace and
defense, automotive (tier one supplier), ceramics, chemical processing,
entertainment, food and beverage, newsprint and publishing,
microelectronics, plastics, primary metals and recycling. 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 INCOME (Unaudited)
Three Months Ended
Nine Months Ended
August 31,
August 31,
August 31,
August 31,
2006
2005
2006
2005
Net revenues
$ 1,996,800
$ 2,310,814
$ 6,353,906
$ 6,213,398
Cost of goods sold
1,269,711
1,729,782
4,445,089
4,512,936
Gross profit
727,089
581,032
1,908,817
1,700,462
Operating expenses:
Selling General and administrative
140,635
102,351
452,997
399,416
380,300
299,169
1,090,203
891,029
Research and development
101,009
63,216
226,163
164,430
621,944
464,736
1,769,363
1,454,875
Operating income
105,145
116,296
139,454
245,587
Net interest expense:
(17,060)
(9,845)
(37,825)
(24,864)
Income before income taxes
88,085
106,451
101,629
220,723
Federal and state income taxes (Note B)
-
-
-
-
Net income
$ 88,085
$ 106,451
#
$ 101,629
$ 220,723
Weighted average number of common shares outstanding -
