TX HOLDINGS REPORTS RESULTS FOR 2021 FISCAL YEAR
TX Holdings Responds to Enquiries Regarding Investors Stocks Trading
TX Holdings Reports Compliance with OTC’s Trading Requirements
TX Holdings Reports First Quarter Results for 2021 Fiscal Year
TX Holdings Reports Results for Fiscal Year Ended September 30, 2020
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
Revenue for 2014 Decreased 12.4% Second Full Year Reporting Net Income
- Revenue for 2014 decreased 12.4% as compared to 2013
- Gross profit for 2014 decreased 27.4% as compared to 2013
- Net income for 2014 was $341,300 an increase of $14,323
- Second full year in which company has posted net income
ASHLAND, KY / ACCESSWIRE / November 18, 2014 / TX Holdings, Inc. (TXHG), a supplier of mining and rail products to the U.S. coal mining industry, today announced financial results for its full 2014 fiscal year. The company's revenue and gross profit decreased during 2014, although the company continued to report net income for the full year.
Mr. Shrewsbury, the company's CEO and Chairman, stated that "During 2014, we had sales of $4.3 million a decrease of approximately 12.4% when compared to 2013, primarily as a result of the loss of a customer. However, we still reported net income for the full year and we are pleased overall with our performance despite regulatory changes in the coal mining industry. "
Fiscal 2014 Financial Summary:
Revenue for fiscal 2014 was $4.29 million, a decrease of $608,909 or 12.4% compared to 2013.
Gross profit for 2014 was $1.14 million, a decrease of 27.4% compared to 2013.
Net income for 2013 was $341,300, an increase of $14,323.
Earnings per diluted share was $0.01 remaining unchanged from 2013.
Cost of goods sold was $3.15 million compared to $3.3 million in 2013, a decrease of 5.4%.
Operating expenses for 2014 were $1.17 million, a decrease of 0.5%. Other income was $378,683, resulting from a gain on the settlement of certain litigation and an increase in gain on the extinguishment of debt over the prior year.
Cash used in operating activities for 2014 was $291,920 as compared to $240,084 during 2013. The increase was a direct result of continued efforts to increase finished goods inventory by $912,548 from prior year-end levels to meet projected increases in sales demand and an increase in accounts receivable of $95,037. Accrued liabilities as of 2014 year end increased by $71,538 and accounts payable increased $362,376. At September 30, 2014, the company had cash and cash equivalents of $72,784, a decrease of $102,244 when compared to 2013. To fund ongoing operations, the company continued to rely upon financing provided by its CEO, including demand notes and advances of $2.04 million, and a secured bank line of credit of which $548,500 had been drawn upon at year end.
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; our failure to meet growth and productivity objectives; a failure of our innovation initiatives; risks from investing in growth opportunities; fluctuations in financial results and purchases; the impact of local legal, economic, political and health conditions; adverse effects from environmental matters and tax matters; ineffective internal controls; our use of accounting estimates; our ability to attract and retain key personnel and our reliance on critical skills; impact of relationships with critical suppliers; currency fluctuations and customer financing risks; the impact of changes in market liquidity conditions and customer credit risk on receivables; our reliance on third party distribution channels; Securities and Exchange Commission 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 our Quarterly Reports on Forms10-Q, our Annual Report on Form 10-K and in our other filings with the 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. We assume no obligation to update or revise any forward-looking statement. 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 we 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 us at certain times.
CONTACT:
William "Buck" Shrewsbury
Chairman and CEO
TX Holdings, Inc.
(606) 928-1131
SOURCE: TX Holdings, Inc.