Results of First Quarter 1999 Operations
The table below sets forth for the first quarters of 1999 and 1998 the
percentage of net sales represented by certain items in the company's
Consolidated Statement of Operations.
Product sales and total revenue were about the same for both quarters.
Operating income increased in first quarter 1999 to $21,579 from a loss of
$87,223 in the same quarter in 1998.
Gross margin improved due to a better product mix and improved manufacturing
efficiency. Efficiency was hampered in 1998 due to preparations for
relocation to a new facility. G & A Expenses were also higher in first
quarter 1997, due primarily to higher legal and accounting fees.
The company recorded a non-recurring gain of $104,112 in first quarter 1999
from recovery of assets purchased with funds embezzled from the company.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TVI Corporation
By: /s/ Allen E. Bender
Allen E. Bender, President
June 9, 1999
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C> <C>
<PERIOD-TYPE> 3-MOS 3-MOS
<FISCAL-YEAR-END> DEC-31-1999 DEC-31-1998
<PERIOD-END> MAR-31-1999 MAR-31-1998
<CASH> 31,621 11,462
<SECURITIES> 0 0
<RECEIVABLES> 175,544 130,861
<ALLOWANCES> 0 0
<INVENTORY> 517,534 609,975
<CURRENT-ASSETS> 724,698 752,299
<PP&E> 697,105 679,761
<DEPRECIATION> 538,521 457,373
<TOTAL-ASSETS> 1,080,432 1,002,511
<CURRENT-LIABILITIES> 377,135 454,263
<BONDS> 0 0
0 0
60,911 71,708
<COMMON> 229,780 222,564
<OTHER-SE> 12,022,250 11,963,044
<TOTAL-LIABILITY-AND-EQUITY> 1,080,432 1,002,511
<SALES> 334,016 330,720
<TOTAL-REVENUES> 352,016 345,841
<CGS> 171,184 239,918
<TOTAL-COSTS> 186,184 254,918
<OTHER-EXPENSES> 136,355 165,950
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 7,898 12,196
<INCOME-PRETAX> 21,579 (87,223)
<INCOME-TAX> 0 0
<INCOME-CONTINUING> 21,579 (87,223)
<DISCONTINUED> 0 0
<EXTRAORDINARY> 104,812 0
<CHANGES> 0 0
<NET-INCOME> 126,391 (87,223)
<EPS-BASIC> .005 (.004)
<EPS-DILUTED> .005 (.004)
</TABLE>