Trans-Lux Reports Second Quarter Results.NORWALK, Conn. -- Trans-Lux Corporation (AMEX AMEX See: American Stock Exchange : TLX TLX Telex (File Name Extension) TLX Telex TLX Task Load Index TLX T-Cell Leukemia, Homeobox TLX teletype (US DoD) TLX Thin Layer Explosive TLX Thermomyces lanuginosus xylanase TLX Tourisme Luxe Extra ), a leading supplier of programmable electronic information displays and operator of cinemas, today reported financial results for the second quarter ended June 30, 2007. Trans-Lux President and Co-Chief Executive Officer Michael R. Mulcahy made the announcement. Second Quarter 2007 Revenues for the quarter totaled $13.2 million, down from $13.7 million during the same period in 2006. Trans-Lux recorded a net loss for the quarter of $264,000 (-$0.11 per share), compared with a net loss of $393,000 (-$0.31) during the same period last year. The quarterly results include a gain from the termination of an office lease, offset by a foreign currency loss and increased medical and insurance costs. Among other business initiatives, Trans-Lux continued its on-going cost-cutting measures to help offset declining equipment rental and maintenance income. Cash flow, as defined by EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become , was slightly lower at $2.6 million for the quarter, compared with $2.8 million during the same period in 2006. Subsequent to the end of the quarter, the Company secured a one-year extension until 2009 on its senior credit facility. "Despite increases in medical and insurance costs, the Company is making progress in our continuing efforts to reduce overhead and cut expenses," said Thomas Brandt, Trans-Lux Executive Vice President and Co-Chief Executive Officer. "We remain committed to growing key areas of the business." Six Months Ended June 30, 2007 For the six months ended June 30, 2007, Trans-Lux reported revenues of $25.3 million, level with revenues generated during the same period in 2006. The Company posted a net loss of $2.7 million (-$1.42 per share), which included a one-time, non-cash, non-tax deductible charge of $1.5 million relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a successful Exchange Offer in the first quarter, compared with a net loss of $1.5 million (-$1.16 per share) during the same period last year. EBITDA was slightly lower at $4.3 million for the six-month period, compared with from $4.6 million last year. As previously reported, the Company successfully completed an Exchange Offer for its 81/4% Limited Convertible Senior Subordinated Notes due 2012, as a result of which $7.8 million of debt was exchanged for 1,041,257 shares of the Company's Common Stock, further reducing the Company's total long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and interest expense. Entertainment/Real Estate Division The Entertainment/real estate division continues its positive track, with revenues up 9% quarter-to-quarter and 12% year-to-date, and is moving forward with plans to expand the number of screens in the Mountain States The Mountain States (also known as the Mountain West) form one of the nine geographic divisions of the United States that are officially recognized by the United States Census Bureau. over the next several years. Top grossing films for the second quarter included highly anticipated summer blockbuster sequels such as Shrek the Third, Spider-Man 3 and Pirates of the Caribbean This article is about the franchise. For other, more specific uses, see Pirates of the Caribbean (disambiguation). For real pirates, see Piracy in the Caribbean. Pirates of the Caribbean : At World's End. Display Division - Outdoor Strong sales in the commercial market continue to drive results in the Outdoor display division. Significant sales included a large order for a full color CaptiVue([R]) video display from the City of Gulfport (MS) Sportsplex, which will be used as an outdoor marquee to advertise and promote upcoming events at the recreational complex, and an order for two full-color CaptiVue video displays from Pontchartrain Center The Pontchartrain Center is a 4,600-seat multi-purpose arena in Kenner, Louisiana, USA. It hosts concerts and locals sporting events, including the Ultimate Fighting Championships UFC 16: Battle in the Bayou, and UFC 18:Road to the Heavyweight Title. in Kenner, Louisiana Kenner is a suburb of New Orleans that has a population of 70,517 (census 2000). The city is part of Jefferson Parish, Louisiana. History In 1855, Kenner was founded by Minor Kenner on land that consisted of three plantation properties that had been purchased by the . One of the displays will be used as an outdoor marquee for the multi-purpose convention center/arena and the other as a full-matrix scoring display for basketball and volleyball games. Display Division - Indoor Although disconnects of existing rental installations continue to negatively impact the financial services sector, the Indoor display division secured several new orders for trading displays from firms in various segments of the financial services industry. Notable developments included a new order for a 60-foot long semicircular semicircular shaped like a half-circle. semicircular canals the passages in the inner ear, in the bony labyrinth concerned with the sense of balance, especially the detection of movement. indoor LED Jet([R]) electronic ticker from a financial firm in Japan. Also during the quarter, the Company completed installation of a tri-color GraphixMax([TM]) display system at a major stock exchange in the Far East. The displays are being used in a state-of-the-art atrium lobby as a pair of 44-foot high vertical tickers that change direction in accordance with the movement of the local stock exchange. Sales in the gaming sector remains strong, continuing on an upswing that began last year. During the quarter, the Company was awarded contracts from Boyd Gaming for three more of their Las Vegas properties, in addition to a contract from Boyd's Jokers Wild Casino The Jokers Wild Casino is a 23,500 ft² locals casino located in Henderson, Nevada. It is one of the casinos owned by Boyd Gaming Corporation. It originally opened in 1990 as the Cattle Baron Casino, and closed in 1993. It was reopened in 1994 under its present name. reported earlier. The additional orders include a new electronic sports book display system to replace a competitor's system at Sam's Town Hotel & Gambling Hall, as well as new electronic sports book display systems at California Hotel & Casino and the Fremont Hotel & Casino. The Company also secured an incremental order from Foxwoods Resort Casino Foxwoods Resort Casino is a hotel-casino in Ledyard, Connecticut. It is the largest casino in the world, as measured by floor space for gaming, with 340,000 sq ft (31,587 m²) [1]. The entire resort comprises 4,700,000 sq ft (440,000 m²) of space. in Ledyard, Connecticut, for sports panel displays and an electronic ticker sports display for their new Stadium Sports Bar & Grill. Orders were also obtained for electronic ticker sports displays from Peppermill Hotel Casino Resort Overview The Peppermill Hotel Casino is located in southwest Reno, Nevada, owned by Peppermill Casinos Inc. History In 1971, two life-long friends, Bill Paganetti and Nat Carasali purchased a small coffee shop and lounge on what was then the southern in Reno and Western Village Inn & Casino in Sparks, Nevada. The Company continues to receive orders for displays for business school classroom applications, including orders from St. Mary's University in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. and Mississippi Valley State University Mississippi Valley State University is a historically black university located in Itta Bena, Mississippi. The university is commonly referred to as MVSU or simply "The Valley." MVSU is a member school of the Thurgood Marshall Scholarship Fund. in Bena, Mississippi. In addition, various locations of a national HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, continued to order DataWall([R]) and VisionWriter([R]) displays for pharmacy waiting room applications. About Trans-Lux Trans-Lux is a full-service, worldwide provider of integrated electronic display solutions for today's communications environments. Incorporated in 1920, Trans-Lux specializes in the design, manufacture, installation and service of large-scale indoor and outdoor LED electronic display systems for applications in the financial, banking, gaming, advertising, corporate, retail, transportation, entertainment and sports industries. Trans-Lux offers unique control systems as well as content through its partnerships with key data suppliers in the markets the Company serves. Trans-Lux has display equipment installed at thousands of locations around the world, including the world's major financial exchanges. In addition to its display business, the Company owns and operates a chain of motion picture theatres in the western Mountain States. For more information, please visit our web site at www.trans-lux.com. [TABLE OMITTED] |
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