MarketWatch reports net sales for T.J.T., Inc. fell 24 percent for the second quarter ending March 31, 2012, resulting in a net loss of $286,000 for the quarter compared to a net loss of $296,000 for the same quarter a year ago. Net loss for the six months ending March 31, 2012 was $615,000, higher than the net loss of $582,000 for the same six months the previous year. The report cites increased administrative expenses, start-up costs for the new North Dakota plant, and corporate office relocation expenses for the increase in net loss. TJT provides recycled tires and axles, and set-up supplies, to the manufactured housing industry, and also sells after-market products to the MH, RV, and residential markets. MHProNews.com has learned the company filed suit March 30, 2012 against four former management employees including the former CEO, president, and chairman Terrence Sheldon alleging wrongful use of trade secrets, breach of fiduciary responsibilities, and interference with third-party relationships.
(Image credit: T.J.T., Inc.)