Printer Friendly

TRANS-LUX CORPORATION ANNOUNCES HIGHER FIRST QUARTER REVENUES AND EARNINGS

 NORWALK, Conn., May 13 /PRNewswire/ -- Trans-Lux Corporation (AMEX: TLX) today reported increased revenues and earnings for the first quarter ended March 31, 1993. The announcement was made by Chairman Richard Brandt.
 Gross revenues for the quarter were $7.7 million, up 29 percent from $6.0 million last year. Net income was $136,000 (11 cents per share) versus $83,000 (7 cents per share) in 1992. The 1992 results have been restated to reflect the company's retroactive adoption of SFAS No. 109, "Accounting for Income Taxes." The effect of the restatement for the quarter ended March 31, 1992, was to reduce the earnings per share by 1 cent. The adoption of SFAS No. 109 is also having a slight negative impact on the 1993 results.
 Mr. Brandt attributed a portion of the increase in gross revenues to both the purchase of Trans-Lux information displays by the Chicago Mercantile Exchange (CME) and the 1992 acquisition of the lease base of approximately 2,000 outdoor display signs. The CME sale, the largest in the company's history, is being recognized on a percentage of completion basis and will extend into future quarters of 1993.
 Trans-Lux Corporation, whose securities are traded under the symbol "TLX" on the American Stock Exchange, has two operating divisions. The communications division designs, produces, leases, sells and services large-scale multi-color information displays for both indoor and outdoor use, and various communication terminal products. Trans-Lux displays are used primarily in applications for the banking, financial, transportation, corporate and gaming markets. The entertainment division operates a chain of motion picture theatres in the Southwestern United States.
 TRANS-LUX CORPORATION
 Results of Operations
 (Unaudited)
 Three months ended March 31 1993 1992
 Gross revenues $7,691,000 $5,968,000
 Income before taxes 248,000 157,000
 Net income (A) $ 136,000 $ 83,000
 Earnings per share (A) $0.11 $0.07
 Average common shares outstanding 1,249,785 1,248,938
 (A) -- 1992 has been restated to reflect the effect of the adoption of SFAS No. 109, "Accounting for Income Taxes."
 -0- 5/13/93
 /CONTACT: Victor Liss of Trans-Lux, 203-853-4321/
 (TLX)


CO: Trans-Lux Corporation ST: Connecticut IN: SU: ERN

GK-SM -- NY063 -- 8183 05/13/93 14:22 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 13, 1993
Words:367
Previous Article:DEVON ENERGY CORP. ANNOUNCES RECORD FIRST QUARTER PRODUCTION, REVENUES AND EARNINGS
Next Article:THE INTEGRATED GROUP APPOINTS KAREN CARLON-BESWICK PRESIDENT
Topics:


Related Articles
TRANS-LUX REPORTS INCREASES IN REVENUES AND EARNINGS FOR 1991 FISCAL YEAR, DECLARES DIVIDEND AND ANNOUNCES CHANGES IN MANAGEMENT
TRANS-LUX CORPORATION ANNOUNCES HIGHER FIRST QUARTER EARNINGS
TRANS-LUX ANNOUNCES INCREASE IN SECOND QUARTER OPERATING EARNINGS
TRANS-LUX CORPORATION ANNOUNCES HIGHER THIRD QUARTER EARNINGS
TRANS-LUX CORPORATION REPORTS INCREASES IN REVENUES AND EARNINGS FOR 1992 FISCAL YEAR
TRANS-LUX CORPORATION ANNOUNCES INCREASED SECOND QUARTER REVENUES AND EARNINGS
TRANS-LUX CORPORATION ANNOUNCES INCREASED THIRD QUARTER REVENUES AND EARNINGS
TRANS-LUX CORPORATION ANNOUNCES HIGHER FIRST QUARTER REVENUES AND OPERATING EARNINGS
TRANS-LUX CORPORATION ANNOUNCES INCREASED FIRST QUARTER REVENUES AND OPERATING EARNINGS
TRANS-LUX REPORTS A 20% INCREASE IN SECOND QUARTER EARNINGS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters