TJT Inc. (OTC Markets: AXLE) reports a net profit of $75,815, $.02 per diluted share for the first quarter of fiscal year 2014, as compared to a net loss of $302,189 for the same quarter in the previous year. According to marketwatch.com net sales for Q1 2014 increased 90 percent to $1,456,466 versus $768,368 for the comparable quarter last year. Net sales of tires and axles rose 253 percent, from $244,484 the previous first quarter to $826,094 for Q1 2014. President and CEO Terry Sheldon commented on the first quarter results by saying, “We are very pleased with the return to profitability of T.J.T., Inc. The turnaround of the corporate results during the first quarter of this fiscal year is especially encouraging since historically the quarter can be challenging due to the seasonal nature of the business. We look forward to continuing to improve the operational results as the year progresses.”
MHProNews last post about the company was Aug. 24, 2012 when when the executive leadership changed following a lawsuit by the company against former employees. TJT supplies the manufactured housing industry with recycled axles and tires.
(Image credit: TJT Inc.)