Financial News

T.J.T., Inc. Reports Results for Q4 and Fiscal Year 2014

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 fiscal year income before taxes of $247,912 on net sales of $6,163,707. The fourth quarter income before taxes was $111,057 on quarterly net sales of $1,912,407. The Company, in consultation with its outside accounting firm, determined that a portion of the tax asset valuation allowance should be released. In consideration of all available evidence, the Company has determined that approximately one third of the tax asset is now more likely than not to be realized as future tax benefits. To this effect, $600,000 of the $1,789,000 allowance has been released. The yearly after tax earnings, which include the benefit of the partial tax asset allowance reversal, equate to a net income of $847,912, or $.19 per diluted share. The fourth quarter after tax earnings equate to a net income of $711,057, or $.16 per diluted share.

Net sales increased 33 percent to $1,912,407 in the final quarter of 2014 as compared to the same quarter in 2013 when net sales were $1,442,593. Net sales increased 53 percent during the twelve months ended September 30, 2014 to $6,163,707 compared to the same period in 2013 when they were $4,022,081. Net sales of axles and tires increased 57 percent to $1,229,176 for the three month period ending September 30, 2014, and increased 114 percent to $3,855,210 for the twelve month period ending September 30, 2014 compared to the same periods in 2013, respectively. Net sales of accessories increased 3 percent to $683,231 in the fourth quarter of 2014 compared to the fourth quarter of 2013, and increased 7 percent to $2,308,496 during the twelve months of 2014 as compared to 2013.

TJT CEO Terry Sheldon commented on the fourth quarter and annual results by saying, “We are very pleased to report a profitable fiscal year for T.J.T., Inc. Our team of employees at TJT continues to work diligently to provide the highest quality products and services to our customers. We look forward to continued improvements in the operational results going forward.”

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 on the Company website at www.tjtusa.com, or you may contact:

Contacts:

T.J.T., Inc.
Paul G. Smith
Chief Financial Officer and Treasurer
208-472-2500

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