Transbotics Corporation Announces First Quarter Results.CHARLOTTE, N.C. -- Transbotics Corporation Transbotics Corporation is a publicly held corporation specializing in tailor-made Automated Guided Vehicles (AGVs) integrated into a total automation solution. It provides components, engineering, product manufacturing, installation, and aftermarket support for Automatic Guided , (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TNSB) (www.transbotics.com), announced the results for its three month period ended February February: see month. 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 Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. was approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $2,900,000 compared to approximately $3,620,000 one year earlier. For over 20 years Transbotics Corporation has specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. 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 (1) In electronics, a device that combines an input with a variable, such as time, and provides an analog output; for example, a watt-hour meter. (2) See systems 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 F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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
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