TJT, Inc. (OTC:AXLE) has announced the financial results for the fiscal year 2009 ended September 30, 2009. The company reported a net loss of $1,726,000, or $0.38 per diluted share. The net sales also declined by over 40% during the three and twelve month periods. Its tires and axles sales decreased 45% during the same period of the previous year.
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TJT’s gross margin was reported to have declined 4% during the fourth quarter, versus 25% during the same quarter of the previous year. The 12 month gross margin was 15%, versus the 24% reported during fiscal 2008. A copy of the full financial report may be obtained from Larry Prescott, TJT Senior Vice President and Chief Financial Officer, at 208.365.5321.
T.J.T., Inc. is engaged in the business of repairing and reconditioning axles and tires for the manufactured housing industry. The Company operates in two segments: axle and tire reconditioning, and accessories and siding distribution. The Company purchases used axles and tires, from manufactured home dealers and transporters. The Company reconditions the axles and inspects the tires, and sells this inspected and reconditioned running gear to manufactured home factories for reuse. As of September 30, 2008 (fiscal 2008), T.J.T., Inc. operated an axle and tire collection facility in Hubbard, Oregon, and a similar facility in Phoenix, Arizona. In May 2007, the Company became a 51% owner of Ladder Lift Systems L.L.C., which was established to manufacture, sell and distribute vehicular cargo loaders. On September 1, 2008, the Company suspended the business activity of Ladder Lift Systems L.L.C.
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