T.J.T., Inc. Reports Results, Net Loss

T.J.T., Inc, a major supplier of axles, tires, and set-up supplies to the manufactured housing industry, announced a net loss of $1,535,000, or $.34 per diluted share, for fiscal year 2010. Net sales declined 23 percent in the final quarter of fiscal 2010 as compared to the same quarter in 2009. Net sales declined 19 percent during the twelve months ended September 30, 2010 compared to fiscal 2009. According to statistics from the Manufactured Housing Institute, shipments in the Company’s market area during fiscal 2010 are estimated to have declined approximately 11 percent when compared to 2009. Net sales of axles and tires decreased 34 percent and 24 percent in the three and twelve month periods ending September 30, 2010 compared to the same periods in 2009, respectively. Prior to its closing in October 2009, the Arizona facility contributed sales of $25,000 and $368,000 in the three and twelve month periods of 2009, respectively, of which almost all were wholesale sales of unprocessed inventory. The Company has had minimal sales of unprocessed inventory at wholesale prices outside of its market area in 2010. Excluding wholesale sales from 2009, net sales of axles and tires declined 17 percent in fiscal 2010 compared to 2009. Lower axle and tire net sales in both 2010 periods were a result of lower sales volumes coupled with reduced selling prices in the fourth quarter. Net sales of accessories increased 6 percent in the fourth quarter of 2010 compared to the same 2009 quarter, but declined 6 percent during the twelve months of 2010 as compared to fiscal 2009.

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