RICHARDSON, TX -- TXP Corp., a provider of pre-manufacturing services for electronics manufacturing, today reported September quarter sales of $1.7 million and net income was $2.2 million.

The odd ratio was tied to a one-time revene gain in the third quarter 2005 and a large tax benefit in the just-completed period.

For the quarter net income included a non-cash gain of $2.7 million related to a change in the fair value of derivative financial instruments. TXP had net income of $405,000 in 2005.

Sales dropped $4.2 million from the quarter last year, when TXP booked $5.2 million from a one-time project with a single customer.

The operating loss was $215,000, down from income of $676,000 last year.

Total revenue year-to-date is $5.1 million, down from $8.5 million in 2005. The operating loss is $346,000, versus operating income of $332,000, and the net loss is $2.1 million, versus a net loss of $21,000 last year.

Excluding last year's one-time gain, core revenues rose 120% year-over-year and gross margin increased to 41% from 22% last year.

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