T.J.T., Inc. Reports Results for First Quarter Of Fiscal 2011

T.J.T., Inc., a major supplier of axles, tires and set-up supplies to the manufactured housing industry, announced a net loss Tuesday of $286,000 in its first quarter of fiscal 2011. Net sales decreased 27 percent in the first quarter of fiscal 2011 as compared to the same period in 2010. Axle and tire net sales decreased 38 percent, offset by an increase in accessories net sales of almost four percent. Net sales in the axle and tire segment decreased as a result of declines in sales volume and sales prices. The company reports first quarter of 2011 included minimal sales associated with utilizing the Company’s freight trucks to provide motor carrier services to outside customers. Motor carrier services contributed net sales of $123,000 to the axle and tire segment in the 2010 quarter. In February 2010, management discontinued motor carrier services. Net sales of accessories increased primarily as a result of sales to certain customers servicing the North Dakota market area. The Company also recorded a bad debt reserve of $58,000 as a result of Palm Harbor Homes filing for bankruptcy on November 29, 2010.
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