TRTI Transtech Industries Inc (CE)

Robert V. Silva, President and Chief Executive Officer of Transtech Industries, Inc. (OTC BULLETIN BOARD:TRTI) announced the results of operations for the three and nine month periods ended September 30, 2009. The Company’s subsidiaries perform environmental services and generate electricity utilizing methane gas as fuel.

Revenues for the electricity generation segment for the three and nine month periods ended September 30, 2009 were $108,000 and $313,000, respectively, versus $201,000 and $573,000 reported for the those periods in 2008. The decrease in revenue reflects the decline in the price received per kilowatt generated as the kilowatt output was comparable for the periods. Gross revenues of the environmental services segment for the three and nine month periods ended September 30, 2009 were $178,000 and $509,000, respectively, versus $186,000 and $623,000 reported for the those periods last year. The environmental services performed in the periods were conducted on sites owned or leased by members of the consolidated group and therefore eliminated in the calculation of net revenues.

The cost of operations for the three and nine month periods ended September 30, 2009 were $588,000 and $1,797,000, respectively, versus $644,000 and $2,060,000 reported for the periods in 2008. The net decrease in costs was primarily due to a decrease in professional fees and general operating expenses.

Other income for the three and nine month periods ended September 30, 2009 was $197,000 and $652,000, respectively, versus $220,000 and $479,000 reported for the periods in 2008.

Income tax benefit recognized for the three and nine month periods ended September 30, 2009 was $162,000 versus $86,000 and $261,000 reported for the periods in 2008, respectively.

Net loss for the three and nine month periods ended September 30, 2009 was $121,000, or $.04 per share, and $670,000, or $.22 per share, respectively. Net loss reported for the three and nine month periods in 2008 was $137,000, or $.05 per share, and $747,000, or $.25 per share, respectively.

The Company and certain subsidiaries previously participated in the waste recovery and waste management industries. The Company continues to incur administrative and legal expenses on matters related to its past participation in those industries. In addition, the Company may incur significant remediation and post-closure costs related to sites of past operations in excess of amounts accrued for such costs.

Presented below are the unaudited consolidated balance sheet of the Company as of September 30, 2009 and comparative consolidated statements of operations for the three and nine month periods ended September 30, 2009 and 2008.

TRANSTECH INDUSTRIES, INC.

AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

As of September 30, 2009 (Unaudited, in $000's)  

Assets

Cash and cash equivalents   $ 664 Marketable securities 1,700 Restricted escrow accounts 1,063 Other current assets 618 Total current assets 4,045 Restricted escrow accounts 5,581 Other assets 1,999 Total assets $ 11,625  

Liabilities and Stockholders' Equity

Total current liabilities $ 1,872 Income taxes payable 456 Accrued post-closure costs 6,876 Other liabilities 51 Stockholders' equity 2,370 Total Liabilities and Stockholders' Equity $ 11,625

CONSOLIDATED STATEMENTS OF OPERATIONS

(In $000's, except per share data)     For the Three Months Ended September 30, 2009   2008 Gross Revenues $ 286 $ 387 Less: Eliminations (178 ) (186 ) Net Revenues 108 201 Cost of Operations (588 ) (644 ) Other Income 197 220 Income Tax Benefit 162 86 Net Loss $ (121 ) $ (137 ) Loss per common share: Net Income Loss $ (.04 ) $ (.05 ) Number of shares used in calculation 2,979,190 2,979,190   For the Nine Months Ended September 30, 2009 2008 Gross Revenues $ 822 $ 1,196 Less: Eliminations (509 ) (623 ) Net Revenues 313 573 Cost of Operations (1,797 ) (2,060 ) Other Income 652 479 Income Tax Benefit 162 261 Net Loss $ (670 ) $ (747 ) Loss per common share: Net Loss $ (.22 ) $ (.25 ) Number of shares used in calculation 2,979,190 2,979,190

This news release may contain forward-looking statements as defined by federal securities laws, that are based on current expectations and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risks and uncertainties include among others, the following: general economic and business conditions; the ability of the Company to implement its business strategy; the Company’s ability to successfully identify new business opportunities; changes in the industry; competition; the effect of regulatory and legal proceedings. The forward-looking statements contained in this news release speak only as of the date of release; and the Company does not undertake to revise those forward-looking statements to reflect events after the date of this release.