TJT Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended June 30, 2012
The net loss for the nine months ended June 30, 2012 was $808,000 or $0.18 per diluted share compared to a net loss of $928,000 or $0.20 per diluted share in the same nine month period a year ago. Improvements to the year-to-date net loss was driven by the $50,000 gain recognized on investment property in 2012, a 2011 impairment loss on real estate held for sale of $154,000, partially offset by $30,000 of income related to the company selling its interest in Ladder Lift Systems, L.L.C. in 2011. The net loss for 2012 was also negatively impacted by increased administrative expenses and start-up costs associated with the new North Dakota facility. Total sales were $3,183,000 against $4,118,000 reported last year. Operating loss was $962,000 against $838,000 reported last year. Net cash used by operating activities was $552,000 against $145,000 and purchases of property, plant and equipment was $552,000 against $24,000 reported last year.