TX Holdings Reports Results for Fiscal Year Ended September 30, 2017
JUL 28 2017 TX Holdings Reports Third Quarter Results 2017
APR 28 2017 TX Holdings Reports Second Quarter Results 2017
Jan 20 2017 TX Holdings Reports First Quarter Results 2017
Dec 16 2016 TX HOLDINGS INC. Reports Results for Fiscal Year Ended September 30, 2016
Jan 25 2016 TX Holdings Reposts Results For First Quarter Of Fiscal 2016
Dec 29 2015 TX Holdings Full Year Results For 2015
Aug 3 2015 Aug 3, 2015 TX Holdings Reports Third Quarter 2015 Results
March 9, 2015 TX Holdings Secures Customer Supply Arrangements
Dec 01, 2014 TX Holdings Closes on Acquisitoin of "The Bag Rack", LLC
Nov 18, 2014 TX Holdings Reports 2014 Results
Sept 16, 2014 TX Holdings to Attend International Mining Conference & Expo (IMEX)
July 30, 2014 TX Holdings to Host Teleconference In Conjunction with Third Quarter Financial Results
June 18, 2014 TX Holdings Issues Letter to Shareholders
May 27, 2014 TX Holdings awarded $374,024 in settlement agreement
July 22, 2013 TX HOLDINGS REPORTS 2013 THIRD QUARTER RESULTS THIRD QUARTER REVENUE INCREASED SECOND BACK-TO-BACK QUARTER REPORTING NET INCOME
January 15, 2013 TX Holdings Announces Delay in Filing Its 2012 Form 10-K
May 21, 2012 TX Holdings Inc.Announces Settlement Agreement with former CEO Mark Neuhaus
December 12, 2011 TX Holdings Inc. will expand its operations to supply rail and steel drill products to the mining industry
ASHLAND, KY--(Marketwired - Jul 22, 2013) - TX Holdings, Inc. (OTCQB: TXHG)
ASHLAND, KENTUCKY - July 21, 2013 - TX Holding, Inc. (OTC Markets: TXHG), is pleased to announce that its move into the distribution of rail material and mining supplies consumed by the coal mining industry in the production and transportation process has resulted in its ability to continue to produce increased sales and reports a second consecutive quarter in which it has been able to show net income.
Net income in the third quarter was $185,999 as compared to a net loss of $202,738 for the same period in 2012. Net income for the first nine months of 2013 was $123,676 compared to a net loss of $413,655 for the same period in 2012.
During the third quarter, cost of goods sold was $823,892 as compared to cost of goods sold of $645,455 for the same period in 2012, an increase of $178,437 or 27.6% as a result of higher sales volumes. During the first nine months of 2013, cost of goods sold was $2,097,649 as compared to cost of goods sold of $1,459,208 for the same period in 2012, an increase of $ 638,441 or 43.8 %, a result of increased in sales volume as the company continues to expand its products and customer base.
Operating expenses for the third quarter of 2013 were $309,303 as compared to $316,883 for the same period in 2012, a decrease of 2.4%. Operating expenses for the first nine months of 2013 were $783,011 as compared to $744,428 for the same period in 2012, an increase of 5.2%.
Other expense was $11,456 for the first three months of 2013 as compared to $37,932 in the comparable period last year. Other expense was $56,635 for the first nine months of 2013 as compared to $36,067 for the comparable period in 2012, an increase of 57%.
Net increase in cash during the first nine months of 2013 was $18,375 as compared to $11,924 in 2012. Cash used in operating activities of $415,982 and resulted from the continued effort by the company to increase inventory to meet projected increases in sales demand. To fund ongoing operations, the company continues to rely upon financing provided by its CEO, William “Buck” Shrewsbury, in the form of a $1.062 million revolving demand note, a demand note in the amount of $289,997, and advances in the amount of $523,583, and a bank line of credit in the amount of $250,000.
Mr. Shrewsbury stated that “Our earnings in the latest period have resulted in a strengthening of our balance sheet and our decision to enter the rail and mining supplies business is proving to have been fortuitous. The new field that we are involved in is consumables used in the production of coal. We believe our products are being accepted by the coal mining industry and we anticipate expanding our operations into other mining supplies products.
Mr. Shrewsbury commented “We are pleased with our 3rd quarter sales as it is our second consecutive quarter with positive net income. We are continuing our commitment to our shareholders by concentrating on increasing revenue as well as margins thereby increasing shareholder value. We are also continuing our commitment to our customers by providing quality products at competitive prices thus creating customer loyalty.”
Mr. Shrewsbury concluded that “Our outlook for the company going into the 4th quarter of 2013 and into 2014 continues to move in a positive direction.”
Forward-Looking and Cautionary Statements
Except for the historical information and discussions contained herein, statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other applicable law. When used, the words "believe", "anticipate", "estimate", "project", "should", "expect", “plan”, “assume” and similar expressions that do not relate solely to historical matters identify forward-looking statements. Forward-looking statements are based on the company’s current assumptions regarding future business and financial performance. Forward-looking statements concerning future plans or results are necessarily only estimates and actual results could differ materially from expectations. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the following: our ability to implement our business strategy; our financial strategy; a downturn in economic environment; the company’s failure to meet growth and productivity objectives, a failure of the company’s innovation initiatives; risks from investing in growth opportunities; fluctuations in financial results and purchases, impact of local legal, economic, political and health conditions; adverse effects from environmental matters and tax matters; ineffective internal controls; the company’s use of accounting estimates; the company’s ability to attract and retain key personnel and its reliance on critical skills; impacts of relationships with critical suppliers; currency fluctuations and customer financing risks; impact of changes in market liquidity conditions and customer credit risk on receivables; reliance on third party distribution channels; SEC regulations related to trading in “penny stocks;” the continued availability of certain financing provided by our CEO, and other risks, uncertainties and factors discussed in the company’s Forms 10-Q, Form 10-K and in the company’s other filings with the U.S. Securities and Exchange Commission (SEC) or in materials incorporated therein by reference. Any forward-looking statement in this release speaks only as of the date on which it is made. The company assumes no obligation to update or revise any forward-looking statements. Notwithstanding the above, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1933, as amended, expressly state that the safe harbor for forward looking statements does not apply to companies that issue penny stocks. Because the company may from time to time be considered to be an issuer of penny stock, the safe harbor for forward looking statements under the PSLRA may not be apply to it at certain times.
Contact:
William “Buck” Shrewsbury
Chairman and CEO
TX Holdings, Inc.
(606) 928-1131
SOURCE: TX Holdings, Inc.