Transbotics Corporation Announces First Quarter Results
CHARLOTTE, N.C.--April 11, 2006--Transbotics Corporation, (OTCBB:TNSB) (www.transbotics.com), announced the results for its three month period ended February 28, 2006. Revenues for the fiscal quarter ended February 28, 2006 increased 29.0% to $2,054,005 compared to $1,592,350 in 2005. The net income increased for the 2006 first quarter to $8,627 compared to a net loss of $9,704 the prior year. The increase in the income was primarily due to increased revenues.Earnings per common share was $.00 for the three months ended February 28, 2006 compared to a loss per common share of $.00 for the comparable period in 2005. At February 28, 2006, backlog was approximately $2,900,000 compared to approximately $3,620,000 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 an automation solutions integrator that manufactures, integrate, installs and supports various automation technologies including: AGVs, robots, end of arm tooling, vision systems, batteries, chargers, motors and other related products.
Transbotics provides unique automation solutions to a variety of industries, including automotive (tier one supplier), food and beverage, paper and allied products and publishing, entertainment, plastics and primary metals. Transbotics' current customers include Fortune 500 companies as well as small manufacturing companies.
This release (including information 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
Feb. 28, Feb. 28,
2006 2005
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Net revenues $2,054,005 $1,592,350
Cost of goods sold 1,510,122 1,095,733
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Gross profit 543,883 496,617
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Operating expenses:
Selling 132,067 169,686
General and administrative 340,474 298,237
Research and development 54,705 31,141
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527,246 499,064
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Operating income (loss) 16,637 (2,447)
Net interest expense (8,010) (7,257)
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Net income (loss) before income taxes 8,627 (9,704)
Federal and state income taxes (Note B) - -
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Net income (loss) $8,627 $(9,704)
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Weighted average number of common shares
outstanding - basic 4,827,451 4,824,451
Weighted average number of common shares
outstanding - diluted 5,254,656 5,486,465
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Income (loss) per common share - basic
(Note C) $0.00 $0.00
Income (loss) per common share - diluted
(Note C) 0.00 $0.00
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Dividends per common share $ - $ -
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See Notes to Condensed Financial Statements