EMMETT, 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 first quarter net loss of $15,377 ($0.00 per diluted share) on net sales of $1,296,724.
Net sales decreased 11 percent from sales of $1,456,465 in the first quarter of the prior year. Net sales of axles and tires were $821,650, which represents a decrease of 4.7 percent from sales of $862,091 during the first quarter of the prior year. Net sales of accessories totaled $475,074, which represents a decreased of 20 percent from accessory sales of $594,372 in the same period in the prior year.
T.J.T. CEO Terry Sheldon commented on the first quarter results by saying, “While our results were affected to some extent by seasonal factors, we look forward to improved results as the year progresses. Our team of employees at T.J.T. continues to work diligently to provide the highest quality products and services to our customers. We are continuing in our efforts to grow the business by offering quality service to additional customers.”
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.