Trans-Lux Corporation, a key supplier of Digital Displays and next generation LED lighting, reported improved financial results for both the fourth quarter and the year ended December 31, 2016. Trans-Lux President, Chief Executive Officer and Chief Accounting Officer J.M. Allain made the announcement while also stating that both the fourth quarter and the year had positive EBITDA.
(Trans-Lux/ LEDinside)
Year Ended December 31, 2016
Revenues for 2016 totaled $21.2 million, down 10.1% from $23.6 million for 2015. Loss for the year ended December 31, 2016 was $611,000 (loss of $0.47 per share), compared with a loss of $1.7 million (loss of $1.06 per share) in 2015.
The Company had EBITDA of $1.5 million for the year ended December 31, 2016, compared with EBITDA of $1.0 million for 2015.
Despite the lower revenues, both gross profit and gross margin were higher in 2016. Lower selling, general and administrative expenses also contributed to the improved operating results and increased EBITDA.
The Company's audited consolidated financial statements for the fiscal year ended December 31, 2016 will be included in the Company's Annual Report on Form 10-K, which will be filed with the Securities and Exchange Commission later this week.
Fourth Quarter 2016
Revenues for the fourth quarter of 2016 totaled $5.7 million, compared with $5.0 million for the fourth quarter of 2015. Trans-Lux recorded income for the fourth quarter of 2016 of $284,000 ($0.14 per share), compared to a loss of $659,000 (loss of $0.41 per share) in the fourth quarter of 2015.
The Company had EBITDA of $892,000 for the quarter ended December 31, 2016, compared with EBITDA of $22,000 for the same period in 2015.
As with the full year, improved gross margins and lower selling, general and administrative expenses were the primary reasons for the improved operating results and increased EBIDTA in the fourth quarter.
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