TX Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2015
April 30, 2015 at 02:02 pm
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TX Holdings Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 31, 2015. For the quarter, revenue was $951,857 against $1,206,567 a year ago. Loss from operations was $54,320 against income from operation of $59,763 a year ago. Loss before provision for income taxes was $82,122 against income before provision for income taxes of $51,255 a year ago. Net loss was $82,122 against net income of $51,255 a year ago. During the second quarter, revenues decreased due to overall lower sales demand and the company incurred a $82,122 net loss. The second quarter, revenues decreased due to overall lower sales demand.
For the six months, revenue was $1,592,646 against $2,104,447 a year ago. Loss from operations was $174,127 against income from operation of $9,693 a year ago. Loss before provision for income taxes was $227,405 against income before provision for income taxes of $70,902 a year ago. Net loss was $227,405 against net income of $70,902 a year ago. Net cash used in operating activities was $214,872 against $147,266 a year ago. Purchase of equipment was $4,149. The increase in cash flow was a direct result of the $227,405 net cash used for operating activities by the company during the six months ended March 31, 2015.
TX Rail Products Inc., formerly TX Holdings, Inc., is engaged in the business of supplying, distributing, and selling rail material to its domestic coal mining industry, short line railroads, and tunneling contractors. The Company provides variety of rail accessories. It also offers tee rails.