EAGLE, Idaho --(BUSINESS WIRE)-- T.J.T., Inc. (the Company), OTC Markets: AXLE – T.J.T., Inc. , a supplier of axles, tires, and set-up materials to the manufactured housing industry, announced a net profit of $75,815 , or $.02 per diluted share, for the first quarter of fiscal year 2014. The quarterly results represent an improvement of $378,004 over the prior year’s first quarter when the company reported a net loss of $302,189 . Decreases in SG&A expenses, combined with an increase in quarterly net sales, contributed to the improvement in quarterly financial results. Net sales increased 90 percent to $1,456,466 in the first quarter of 2014 compared to sales of $768,368 during the first quarter of the prior year. Net sales of axles and tires totaled $862,094 , an increase of 253 percent from the $244,484 in axle and tire sales in the first quarter of the prior year. Net sales of accessories totaled $594,372 , which is a 17 percent increase from $508,093 in sales of accessories during the prior year’s quarter. Gross margin increased to 28 percent during the first quarter of 2014 compared to 22 percent in the same quarter of 2013. The increase in gross margin was primarily due to increased sales of tires and axles, and a focus on efficient material acquisition, enabling a decrease in cost of goods sold. 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.” Established in 1977, T.J.T., Inc. is a major provider of recycled axles and tires to the manufactured housing industry. It operates recycling facilities in Idaho and California and serves eight western states. In addition to the recycling business, T.J.T . also sells aftermarket products to manufactured housing, recreational vehicle, and residential markets. This release contains certain forward-looking statements, which are based on management’s current expectations including, but not limited to, general economic conditions, changes in interest rates, deposit flows, real estate values, competition, and changes in legislation or regulations, and other economic, competitive, governmental, regulatory, and technological factors affecting the Company’s operations, pricing, products, and services. Any forward-looking statement speaks only as of the date on which the statement is made, and the Company undertakes no obligation to update any forward-looking statement. Copies of this report and additional historical financial information can be found at www.otcmarkets.com and www.tjtusa.com , or you may contact: Paul G. Smith Chief Financial Officer and Treasurer, T.J.T., Inc. (208) 472-2500 T.J.T., Inc. Paul G. Smith , 208-472-2500 Chief Financial Officer and Treasurer Source: T.J.T., Inc.
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