TX Rail Products, Inc. Reports Fiscal 2024 Third Quarter Results
TX Rail Products, Inc. (OTC: TXRP) reported strong financial results for Q3 FY2024. Net income increased 63% year-over-year to $302,000, marking the ninth consecutive quarter of positive earnings. Despite a slight 1.3% revenue decline to $1.76 million, gross margin expanded to nearly 30% from 22% in the prior year. The company achieved this through reduced cost of goods sold, down 11.2% to $1.2 million.
Key highlights include:
- Operating expenses increased 12.3% to $222,000
- Cash and cash equivalents rose to $216,000 from $159,000 at FY2023 end
- Inventory increased 19.7% to $3.1 million due to higher product demand
- 418,084 shares repurchased at $17,000 net cost
The company plans to select a new audit firm, engage an investor relations firm, and aims to uplist to a national exchange.
TX Rail Products, Inc. (OTC: TXRP) ha riportato risultati finanziari solidi per il terzo trimestre dell'anno fiscale 2024. Il reddito netto è aumentato del 63% rispetto all'anno precedente, raggiungendo $302.000, segnando il nono trimestre consecutivo di utili positivi. Nonostante una leggera diminuzione dei ricavi dell'1,3% a $1,76 milioni, il margine lordo è aumentato a quasi il 30% rispetto al 22% dell'anno precedente. L'azienda ha ottenuto questo risultato attraverso una riduzione del costo delle merci vendute, sceso dell'11,2% a $1,2 milioni.
I punti salienti includono:
- Le spese operative sono aumentate del 12,3% a $222.000
- Liquidità e mezzi equivalenti sono saliti a $216.000 rispetto ai $159.000 di fine FY2023
- Le giacenze sono aumentate del 19,7% a $3,1 milioni a causa di una maggiore domanda di prodotto
- 418.084 azioni riacquistate per un costo netto di $17.000
L'azienda prevede di selezionare una nuova società di revisione, ingaggiare una società di relazioni con gli investitori e puntare a un'ulteriore quotazione su un mercato nazionale.
TX Rail Products, Inc. (OTC: TXRP) reportó resultados financieros sólidos para el tercer trimestre del año fiscal 2024. El ingreso neto aumentó un 63% interanual a $302,000, marcando el noveno trimestre consecutivo de ganancias positivas. A pesar de una ligera disminución del 1.3% en los ingresos a $1.76 millones, el margen bruto se expandió a casi el 30% desde el 22% del año anterior. La empresa logró esto a través de una reducción en el costo de bienes vendidos, que disminuyó un 11.2% a $1.2 millones.
Los aspectos más destacados incluyen:
- Los gastos operativos aumentaron un 12.3% a $222,000
- El efectivo y equivalentes de efectivo crecieron a $216,000 desde $159,000 al final del FY2023
- El inventario aumentó un 19.7% a $3.1 millones debido a una mayor demanda de productos
- Se recompraron 418,084 acciones por un costo neto de $17,000
La empresa planea seleccionar una nueva firma de auditoría, contratar una firma de relaciones con inversores y tiene como objetivo cotizar en una bolsa nacional.
TX Rail Products, Inc. (OTC: TXRP)는 2024 회계 연도 3분기 강력한 재무 결과를 보고했습니다. 순이익이 전년 대비 63% 증가하여 $302,000에 이르렀으며, 이는 긍정적인 수익이 9분기 연속 이어진 것을 의미합니다. 매출이 1.3% 감소하여 $1.76백만에 이르렀음에도 불구하고,총 마진은 전년 22%에서 거의 30%로 확대되었습니다. 이 회사는 판매 비용을 11.2% 줄여 $1.2백만에 이르는 것을 통해 이를 달성했습니다.
주요 하이라이트는 다음과 같습니다:
- 운영비가 12.3% 증가하여 $222,000에 이릅니다
- 현금 및 현금성 자산이 FY2023 종료 시 $159,000에서 $216,000로 증가했습니다
- 제품 수요 증가로 인해 재고가 19.7% 증가하여 $3.1백만에 이릅니다
- $17,000의 순 비용으로 418,084 주식이 재구매되었습니다
회사는 새로운 감사 회사를 선택하고, 투자자 관계 회사를 고용하며, 국가 거래소에 상장할 계획입니다.
TX Rail Products, Inc. (OTC: TXRP) a annoncé de solides résultats financiers pour le troisième trimestre de l'exercice 2024. Le revenu net a augmenté de 63 % par rapport à l'année précédente, atteignant 302 000 $, marquant le neuvième trimestre consécutif de bénéfices positifs. Malgré une légère baisse de 1,3 % des revenus à 1,76 million $, la marge brute s'est étendue à près de 30 % contre 22 % l'année précédente. L'entreprise a réalisé cela grâce à une réduction du coût des marchandises vendues, qui a diminué de 11,2 % à 1,2 million $.
Les points forts incluent :
- Les charges d'exploitation ont augmenté de 12,3 % pour atteindre 222 000 $
- La trésorerie et les équivalents de trésorerie ont augmenté à 216 000 $ contre 159 000 $ à la fin de l'exercice 2023
- Les stocks ont augmenté de 19,7 % pour atteindre 3,1 millions $ en raison d'une demande accrue de produits
- 418 084 actions ont été rachetées pour un coût net de 17 000 $
L'entreprise prévoit de sélectionner un nouvel auditeur, d'engager une société de relations avec les investisseurs et de viser à être côtée sur une bourse nationale.
TX Rail Products, Inc. (OTC: TXRP) hat für das dritte Quartal des Geschäftsjahres 2024 starke finanzielle Ergebnisse gemeldet. Der Nettogewinn stieg im Jahresvergleich um 63% auf 302.000 $, was das neunte aufeinanderfolgende Quartal mit positiven Erträgen markiert. Trotz eines leichten Rückgangs der Umsätze um 1,3 % auf 1,76 Millionen $ erweiterte sich die Bruttomarge auf fast 30% von 22 % im Vorjahr. Das Unternehmen erzielte dies durch eine Senkung der Kosten der verkauften Waren, die um 11,2 % auf 1,2 Millionen $ zurückgegangen sind.
Wichtige Highlights sind:
- Die Betriebskosten stiegen um 12,3 % auf 222.000 $
- Barmittel und Zahlungsmitteläquivalente stiegen von 159.000 $ am Ende des Geschäftsjahres 2023 auf 216.000 $
- Der Lagerbestand stieg um 19,7 % auf 3,1 Millionen $ aufgrund höherer Produktnachfrage
- 418.084 Aktien wurden zu einem Nettokosten von 17.000 $ zurückgekauft
Das Unternehmen plant die Auswahl einer neuen Wirtschaftsprüfungsgesellschaft, die Beauftragung einer Investor Relations-Agentur und beabsichtigt, an einer nationalen Börse zu notieren.
- Net income increased 63% year-over-year to $302,000
- Gross margin expanded from 22% to 29.8%
- Cost of goods sold decreased by 11.2% to $1.2 million
- Positive cash flow from operations of $336,000 for the first nine months of FY2024
- Inventory increased 19.7% due to higher product sales demand
- New $500,000 line of credit secured for operations and equipment purchases
- $7 million in tax loss carryforwards available to offset future earnings
- Revenue declined 1.3% year-over-year to $1.76 million
- Operating expenses increased 12.3% to $222,000
- Accounts receivable decreased 41.4% to $471,000
Gross margin expands to nearly
Net income increases
ASHLAND, Ky., July 29, 2024 (GLOBE NEWSWIRE) -- TX Rail Products, Inc. (OTC Markets PINK: TXRP), a supplier of rail and rail products to the U.S. coal mining industry, short line railroads and tunneling contractors, today announced financial results for its third quarter of fiscal year 2024.
Mr. Shrewsbury, CEO and Chairman of TX Rail Products, Inc., commented, “With a
Mr. Shrewsbury, continued, “During the nine months ended June 30, 2024, we repurchased 418,084 shares of common stock under our stock repurchase program at a net cost of
"We are in the final stages of selecting a new audit firm and engaging an investor relations firm to enhance transparency, improve shareholder communications and raise our visibility within the investment community,” concluded Shrewsbury. “Ultimately, we aim to uplist our stock to a national exchange.”
Third Quarter Fiscal Year 2024 Financial Summary
Revenue for the third fiscal quarter ended June 30, 2024, was
Cost of goods sold was
Gross profit for the third quarter ended June 30,2024 increased as a percentage of revenue from
Operating expenses for the third fiscal quarter ended June 30, 2024, were
Other expense for the third fiscal quarter ended June 30, 2024, was (
Net income for the current third fiscal quarter was
On June 30,2024, cash and cash equivalents were
Net cash used in investing activities for the first nine months of fiscal year 2024 was (
Accounts receivable was
Inventory was
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 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.
Contacts
William “Buck” Shrewsbury, Chairman and CEO.
(606) 928-3131
| TX Rail Products, Inc. | ||||||||
| Balance Sheets | ||||||||
| For the periods ended June 30, 2024, and September 30, 2023 | ||||||||
| Unaudited | ||||||||
| June 30, | September 30, | |||||||
| 2024 | 2023 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 215,888 | $ | 159,088 | ||||
| Accounts receivable, net of allowance for doubtful | ||||||||
| accounts of | 470,667 | 802,752 | ||||||
| Inventory, (Note 1) | 3,112,364 | 2,599,510 | ||||||
| Other current assets | 27,776 | 1,605 | ||||||
| Total current assets | 3,826,695 | 3,562,955 | ||||||
| Property and equipment, net, (Note 2) | 377,358 | 82,216 | ||||||
| Total Assets | $ | 4,204,053 | $ | 3,645,171 | ||||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 551,886 | $ | 966,998 | ||||
| Accrued expenses, primarily to officers, (Note 5) | 81,410 | 126,410 | ||||||
| Accrued interest to officer, (Note 5) | 559,726 | 559,726 | ||||||
| Advances from officer | 161,587 | 286,587 | ||||||
| Stockholder/officer advances for operations-warehouse rent | 222,000 | 204,000 | ||||||
| Bank-term loan-current portion | 142,192 | 79,683 | ||||||
| Other current liability | 213,067 | 153,180 | ||||||
| Total current liabilities | 1,931,868 | 2,376,584 | ||||||
| Bank-term-loan, less current portion, (Note 7) | 251,006 | 140,485 | ||||||
| Note payable to officer, (Note 5) | 2,000,000 | 2,000,000 | ||||||
| Total Liabilities | 4,182,874 | 4,517,069 | ||||||
| Commitments and Contingencies, (Note 9) | ||||||||
| Stockholders' deficit: | ||||||||
| Preferred stock: no par value, 1,000,000 shares authorized | ||||||||
| no shares outstanding | _ | _ | ||||||
| Common stock: no par value, 250,000,000 shares | ||||||||
| authorized, 45,000,000 and 45,418,084 shares issued and outstanding | ||||||||
| at June 30, 2024 and September 30, 2023 | 8,703,344 | 8,784,201 | ||||||
| Additional paid-in capital | 4,809,295 | 4,745,438 | ||||||
| Accumulated deficit | (13,491,460 | ) | (14,401,537 | ) | ||||
| Total stockholders' deficit | 21,179 | (871,898 | ) | |||||
| Total Liabilities and Stockholders' Deficit | $ | 4,204,053 | $ | 3,645,171 | ||||
| TX Rail Products, Inc. | ||||||||||||||||
| Statements of Operations | ||||||||||||||||
| For the Three Months and Nine Months Ended June 30, 2024 and June 30, 2023 | ||||||||||||||||
| Unaudited | ||||||||||||||||
| THREE MONTHS ENDED | NINE MONTHS ENDED | |||||||||||||||
| June 30, | June 30, | June 30, | June 30, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenue | $ | 1,764,702 | $ | 1,787,517 | $ | 5,861,674 | $ | 5,211,352 | ||||||||
| Cost of goods sold | (1,238,977 | ) | (1,394,666 | ) | (4,259,235 | ) | (4,162,743 | ) | ||||||||
| Gross profit | 525,725 | 392,851 | 1,602,439 | 1,048,609 | ||||||||||||
| Operating expenses, except items shown | ||||||||||||||||
| separately below | 107,912 | 87,867 | 269,544 | 212,267 | ||||||||||||
| Commission expense | 34,724 | 51,613 | 183,798 | 183,798 | ||||||||||||
| Salary expense | 70,714 | 53,100 | 211,096 | 146,412 | ||||||||||||
| Professional fees | _ | _ | 558 | _ | ||||||||||||
| Bad debt expense | _ | _ | 28,000 | _ | ||||||||||||
| Depreciation expense | 8,472 | 4,915 | 15,535 | 12,597 | ||||||||||||
| Total operating expenses | 221,822 | 197,495 | 708,531 | 555,074 | ||||||||||||
| Income from operations | 303,903 | 195,356 | 893,908 | 493,535 | ||||||||||||
| Other income and (expense) | ||||||||||||||||
| Other income | 4,514 | _ | 21,036 | _ | ||||||||||||
| Gain/Loss on Disposal of Assets | _ | _ | 9,000 | |||||||||||||
| Charitable contribution | _ | (150 | ) | _ | (150 | ) | ||||||||||
| Interest expense | (6,720 | ) | (9,929 | ) | (13,867 | ) | (18,687 | ) | ||||||||
| Total other income and (expense), net | (2,206 | ) | (10,079 | ) | 16,169 | (18,837 | ) | |||||||||
| Net income | $ | 301,697 | $ | 185,277 | $ | 910,077 | $ | 474,698 | ||||||||
| Net earnings per common share | ||||||||||||||||
| Basic and diluted | $ | 0.0067 | $ | 0.0040 | $ | 0.0202 | $ | 0.0100 | ||||||||
| Weighted average of common shares outstanding - | ||||||||||||||||
| Basic and diluted | 45,000,000 | 45,853,084 | 45,092,908 | 47,121,457 | ||||||||||||
FAQ
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