TXP Books Profit on Non-Cash Gains
Published: 17 November 2008
by Mike Buetow
RICHARDSON, TX – TXP Corp.’s third-quarter revenues rose $100,000 over last year to $2.68 million, while earnings hit $3.03 million, up from a net loss of $1.32 million. The net income included a non-cash gain of approximately $6.31 million.
For the quarter ended Sept. 30, the operating loss was $1.94 million, down 14% from last year.
TXP makes assembly prototypes on a contract basis and builds optical network terminals.
The company is in the midst of a merger with Cambridge Industry Group, a deal that should close by yearend.
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