Trans-Industries, Inc. Reports Fourth Quarter and Year-End 2003 Results

Trans-Industries, Inc. Reports Fourth Quarter and Year-End 2003
Results 


ROCHESTER HILLS, Mich., April 14  /PRNewswire-FirstCall/ -- Trans- Industries,
Inc. , a manufacturer of bus lighting systems and information display products,
announced results for the fourth quarter and the year ended December 31, 2003.

Sales, as shown on the accompanying table, were $8,217,849 for the quarter, a
decline of 17.1% from the year ago quarter of $9,909,181.  While lighting
products maintained the volume level of the year ago quarter, the drop in
electronic and mechanical information systems volume represented virtually the
entire sales decline for the period.  For the year as whole, sales were down
approximately $846,000 to $33.7 million with $1.6 million of lost volume due to
the sale of the English subsidiary, which was sold, during the early part of
2003.

For the fourth quarter of 2003, losses were $1,490,126, or $.47 per share,
compared to losses of $1,204,020, or $.38 per share, for the same period a year
ago.

A continuing review of the Company's capabilities and assets led to
restructuring and refinancing efforts starting in mid-year, with particular
emphasis during the fourth quarter.  These moves resulted in management changes
in the information systems business.  Restructuring charges in the form of
severance costs and consulting charges in the amount of approximately $198,000
were incurred as a result of these changes.  In addition to the above charges,
the fourth quarter of 2003 was adversely affected by an increase in health care
costs, a complete write-down of the company's deferred tax assets, and a
reversal of almost $800,000 of revenue due to customers' failure to take
delivery of product in the fourth quarter, even though payment had been
received for most of the product.  These additional expenses for the quarter
approximated $1,145,000.

For the year ended December 31, 2003, the company posted a loss of $3,761,090,
or $1.20 per share, compared to a loss of $1,343,644, or $0.43 per share, for
the prior year. Restructuring charges of approximately $832,000 are included in
the 2003 results, as well as the fourth quarter expenses of $1,145,000 noted
above.  Ongoing restructuring and refinancing efforts continues into 2004 with
emphasis on profit improvement in all areas of the business.  Moreover, certain
steps have been taken to refinance debt and improve liquidity; notably, an
equity infusion of $1.5 million represented by convertible preferred stock was
realized in March and a purchase agreement for the sale of the information
systems plant, soon to be vacated, was signed in March.

The Company continues to operate under a forbearance agreement with Comerica
Bank, its present lender, until January 2005.  Meanwhile, efforts continue to
locate another lender to replace the Comerica credit.  Indications of interest
have been received but no assurance can be made as to the successful completion
of financing by year-end.

About the Company:

The Company is a leading provider of lighting systems and related components to
the mass transit market as well as a supplier of information hardware and
software solutions on Intelligent Transportation Systems (ITS) and mass transit
projects. ITS utilizes integrated networks of electronic sensors, signs and
software to monitor road conditions, communicate information to drivers and
help transportation authorities better manage traffic flow across their
existing infrastructures.

Forward-Looking Statements:

Except for statements of historical fact, this news release contains certain
forward-looking statements about the Company. Such statements are subject to
significant risks and uncertainties including changes in economic and market
conditions, management of growth, and other risks noted in the Company's SEC
filings, which may cause actual results to differ materially.

  Visit Trans-Industries at http://www.transindustries.com/ .


                          Trans-Industries, Inc.
                  Sales and Earnings Report (Unaudited)
                            December 31, 2003


                         Fourth Quarter Ending       Twelve Months Ending
                              December 31                December 31
                          2003           2002         2003         2002

  Sales                 $8,217,849     $9,909,181  $33,721,456  $34,567,382
  Cost of Sales          6,137,775      7,713,388   25,284,634   25,165,989
    Gross Profit         2,080,074      2,195,793    8,436,822    9,401,393
  Selling, Gen. &
   Admin. Exp.           2,710,393      2,521,725   10,234,024    9,829,489
  Interest                 169,419         68,474      661,880      664,727
  Impairment Loss*               0        450,000            0      450,000
  Restructuring Costs      197,879              0      831,862            0
  Other                    (55,491)        (7,386)     (60,854)     (34,179)
    Total Expenses       3,022,200      3,032,813   11,666,912   10,910,037

  Earnings Before
   Income Taxes           (942,126)      (837,020)  (3,230,090)  (1,508,644)

  Income Taxes             548,000        367,000      531,000     (165,000)
    Net Income         $(1,490,126)   $(1,204,020) $(3,761,090) $(1,343,644)

  Earnings Per Share        $(0.47)        $(0.38)      $(1.20)      $(0.43)

  Weighted Average
   Number of Shares
   Outstanding           3,139,737      3,139,737    3,139,737    3,139,737

     *Impairment loss recognized relates to sale of U.K. assets in March
      2003.


                  Consolidated Balance Sheet (Unaudited)


                                         Fourth Quarter Ending
                                              December 31
  Assets:                                 2003            2002

  Total Current Assets                $17,224,345     $21,551,418
  Net Fixed Assets                      3,611,304       4,116,723
  Other Assets                            328,868         235,021
    Total Assets                      $21,164,517     $25,903,162

  Liabilities and Shareholders' Equity:

  Total Current Liabilities           $15,713,505     $13,065,056
  Deferred Income Taxes                         0         483,000
  Long Term Debt                          296,669       3,446,981
  Shareholders' Equity                  5,154,343       8,908,125
    Total Liabilities and
     Shareholders' Equity             $21,164,517     $25,903,162


DATASOURCE: Trans-Industries, Inc.



CONTACT:  Kai Kosanke, Chief Financial Officer of Trans-Industries, Inc.,

[phone]



Web site:  http://www.transindustries.com/ 

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