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TX Rail Products, Inc. Reports Financial Results for Second Quarter of Fiscal 2025
TX Rail Products, Inc. Reports Financial Results for Second Quarter of Fiscal 2025.
About this update from Tx Rail Products, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n TX Rail Products, Inc. Reports Financial Results for Second Quarter of Fiscal 2025\r\n \r\n \r\n\r\n\r\nTX Rail Products, Inc. Reports Financial Results for Second Quarter of Fiscal 2025\r\nFirst Half Fiscal 2025 Revenue Growth and Positive Cash from Operations Outpace Prior Year Period\r\n\r\n\r\n\r\n\r\n\r\nASHLAND, Ky., May 12, 2025 (GLOBE NEWSWIRE) -- TX Rail Products, Inc. (OTC Markets PINK: TXRP), a supplier of rail and rail products to the U.S. coal mining industry, short line railroads and tunneling contractors, today announced financial results for the second quarter of fiscal year 2025. Mr. Shrewsbury, CEO and Chairman of TX Rail Products, Inc., commented, “Through the first half of fiscal 2025, we outpaced the same period last year with higher revenue and increased cash from operations. With strong demand signals across our key markets and favorable market conditions for our offerings, we are entering the second half of the year with confidence.” Second Quarter Fiscal Year 2025 Financial Summary Revenue for the second fiscal quarter ended March 31, 2025, was $2.2 million as compared to $2.5 million for the same period in the prior year, a decrease of 14.2%. Cost of goods sold was $1.6 million as compared to $1.7 million for the same period in the prior year, a decrease of 6.9%. Gross profit for the second fiscal quarter ended March 31, 2025 decreased as a percentage of revenue from 33.6% to 28.0% when compared to the same period the prior year. The decrease in gross profit as a percentage of revenue is the result of the mix of products sold in the current quarter. Operating expenses for the second fiscal quarter ended March 31, 2025, were $230,000 as compared to $243,000 for the three months ended March 31, 2024, a decrease of 5.2%. Other expense for the second fiscal quarter ended March 31, 2025, was ($10,500) as compared to ($21,000) in the same quarter the prior year. Net income for the current first fiscal quarter was $367,000, compared to $587,000 in the second quarter of fiscal year 2024, representing a decrease of 37.4%. On March 31,2025, cash and cash equivalents were $92,000 compared to $114,000 as of September 30, 2024. Net cash provided by operating activities was $186,000 for the six months ended March 31, 2025. Net cash used in investing activities was $0 for the first six...