Transbotics Corporation Announces Fiscal 2005 Results
CHARLOTTE, N.C.--Feb. 2, 20064, 2006--Transbotics Corporation (OTCBB:TNSB), www.transbotics.com, today announced audited results of operations for its fiscal year ended November 30, 2005. Net revenues increased 27.1% from $6,634,984 in fiscal 2004 to $8,431,856 in fiscal 2005. Operating income increased from $85,577 in fiscal 2004 to $165,577 in fiscal 2005.The Company's net income increased by 108.6% to $127,654 in fiscal year 2005 compared to a net income of 61,207 in 2004.
The Company's management announced that it was pleased with the results because the Company significantly grew its revenues while continuing to invest in its research and development efforts.
Earnings per share were $0.03 for 2005, compared to earnings per share of $0.01 for 2005.
At November 30, 2005, backlog was approximately $2,400,000 compared to $3,330,000 at November 30, 2004.
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 technology including AGVs, robotics, batteries, chargers, motors and other related products.
Transbotics provides unique automation solutions to a variety of industries, including aerospace and defense, automotive (tier one supplier), 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.
STATEMENTS OF INCOME
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Years ended November 30,
2005 2004 2003
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Net revenues $8,431,656 $6,634,964 $4,215,957
Cost of goods sold 6,231,231 4,399,168 2,578,840
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Gross profit $2,200,425 $2,235,796 $1,637,117
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Operating expenses:
Selling $ 546,821 $ 664,313 $ 451,668
General and administrative 1,206,658 1,186,729 817,686
Research and development 281,369 299,177 241,175
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$2,034,848 $2,150,219 $1,510,529
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Operating income $ 165,577 $ 85,577 $ 126,588
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Interest expense: $ (37,923)$ (24,370)$ (10,459)
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Income before income taxes $ 127,654 $ 61,207 $ 116,129
Federal and state income taxes - - -
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Net income $ 127,654 $ 61,207 $ 116,129
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Basic earnings per share $ .03 $ .01 $ .03
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Diluted earnings per share $ .03 $ .01 $ .03
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Weighted average common shares
outstanding (basic) 4,826,654 4,806,807 3,810,013
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Weighted average common shares
outstanding (diluted) 5,224,715 4,877,195 3,984,139
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Dividends per common share $ - $ - $ -
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