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Important Disclaimer Notice Certain of the statements contained in these reports (other than financial statements and other statements of historical fact) are forward-looking statements. Words such as "expects" and "believes" and "anticipates" indicate the presence of forward-looking statements. There can be no assurance that future developments will be in accordance with management's expectations or that the effect of future developments on us will be those anticipated by management. January 29, 2010
Revenue for the year ended September 30, 2009 was $35,506,205, a decrease of $15,017,975, or 29.7%, compared to $50,524,180 in 2008. Gross profit for the year was $6,924,857, a decrease of $1,200,436 or 14.8%, compared to $8,125,293 in 2008. Net income was $873,686, a decrease of $1,910,337 or 68.6%, compared to $2,784,023 in 2008. On a per share basis, net income for fiscal year 2009 was 4.7 cents per share compared to 15.0 cents per share in 2008. For the quarter ending September 30, 2009, revenues decreased by $3,988,007, or approximately 29.8%, from $13,403,113 to 9,415,106, compared to the corresponding 2008 quarter. Net income decreased by $942,103, or approximately 81.3%, from $1,158,083 to $215,980, compared to the corresponding 2008 quarter. In 2008, tax benefits from prior years eliminated all the Company's current federal income tax expense. By 2009, the remaining tax benefits were used. Had income tax expense been incurred in 2008, the effect would have been to reduce earnings per share by approximately 5.1 cents. Additional summarized financial information is available at the financial section of this website. January 20, 2010
Revenue for the quarter ended June 30, 2009 was $7,658,719, a decrease of $5,595,556, or 42.2%, compared to $13,254,275 in the quarter ending June 30, 2008. Gross profit decreased by $1,032,104, or approximately 40.0%, from $2,577,128 to $1,545,024. Net income was $43,101 compared to net income of $848,600 in the quarter ended June 30, 2008. On a per share basis, net income for the quarter was 0.2 cents per share compared to 4.6 cents per share in 2008. For the nine-month period ending June 30, 2009, revenues decreased by $11,029,968, or approximately 29.7%, from $37,121,067 to 26,091,099, compared to the corresponding nine-month period ended June 30, 2008. Gross profit decreased by $1,614,117, or approximately 23.1%, from $6,975,648 to $5,361,531. Net income decreased by $968,234, or approximately 59.5%, from $1,625,940 to $657,706, compared to the nine-month period ended June 30, 2008. Additional summarized financial information is available at the financial section of this website. August 3, 2009
Revenue for the quarter ended March 31, 2009 was $8,251,647, a decrease of $3,952,293, or 32.4%, compared to $12,203,940 in the quarter ending March 31, 2008. Gross profit decreased by $355,431, or approximately 15.8%, from $2,243,620 to $1,888,189. Net income was $297,467, a decrease of $83,657, or 22.0%, compared to $381,124 in the quarter ended March 31, 2008. On a per share basis, net income for the quarter was 1.6 cents per share compared to 2.0 cents per share in 2008. For the six-month period ending March 31, 2009, revenues decreased by $5,434,412, or approximately 22.8%, from $23,866,792 to 18,432,380, compared to the corresponding six-month period ended march 31, 2008. Gross profit decreased by $582,013, or approximately 13.2%, from $4,398,520 to $3,816,507. Net income decreased by $162,735, or approximately 20.9%, from $777,340 to $614,605, compared to the six-month period ended March 31, 2008. Additional summarized financial information is available at the financial section of this website. July 29, 2009
Revenue for the quarter ended December 31, 2008 was $10,180,733, a decrease of $1,482,119, or 12.7%, compared to $11,662,852 in the quarter ending December 31, 2007. Net income was $317,138, a decrease of $79,078, or 20.0%, compared to $396,216 in the quarter ended December 31, 2007. On a per share basis, net income for the quarter was 1.7 cents per share compared to 2.1 cents per share in 2007. Additional summarized financial information is available at the financial section of this website. May 12, 2009
Revenue for the year ended September 30, 2008 was $50,524,180, an increase of $2,788,762, or 5.8%, compared to $47,735,418 in 2007. Net income was $2,784,023, an increase of $361,794, or 14.9%, compared to $2,422,229 in 2007. On a per share basis, net income in 2008 was 15.0 cents per share compared to 13.0 cents per share in 2007. For the fiscal fourth quarter of 2008, revenue was $13,403,113 compared to $13,224,782 in 2007, an increase of $178,331. Net income was $1,158,083 compared to $763,941 in 2007, an increase of $394,142. In September 2008, the Company sold the assets in two real estate partnerships, resulting in a gain of $461,692, or 2.5 cents per share. Additional summarized financial information is available at the financial section of this website. January 9, 2009
Net revenues for the third fiscal quarter of 2008 (the three months ended June 30, 2008) were $13,254,275, a decrease of $218,612 from the $13,472,887 recorded in the quarter ended June 30, 2007. Gross profit for the third quarter of fiscal 2008 was $2,577,128, a decrease of $582,066 from the $3,159,194 recorded for the third quarter of fiscal 2007. Net income for the quarter ended June 30, 2008 was $848,600, or $0.046 per share, compared to $596,025, or $0.032 per share for the quarter ended June 30, 2007. For the nine-month period ending June 30, 2008, revenues increased by $2,610,432, or approximately 7.6%, from $34,510,635 to $37,121,067, compared to the nine-month period ended June 30, 2007. Gross profit decreased by $968,146, or approximately 12.2%, from $7,943,794 to $6,975,648, compared to the nine-month period ended June 30, 2007. Net income decreased by $32,349, or approximately 2.0%, from $1,658,289, or $0.089 per share, to $1,625,940, or $0.087 per share, compared to the nine-month period ended June 30, 2007. Additional summarized financial information is available at the financial section of this website. The company anticipates posting results for the full year ending September 30, 2008 in the first week of February. July 2, 2008
Net revenues for the second fiscal quarter of 2008 (the three months ended March 31, 2008) were $12,203,940, an increase of $1,703,616 from the $10,500,324 recorded in the quarter ended March 31, 2007. Gross profit for the second quarter of fiscal 2008 was $2,243,620, a decrease of $38,356 from the $2,281,976 recorded for the second quarter of fiscal 2007. Net income for the quarter ended March 31, 2008 was $381,124, or $0.020 per share, compared to $424,927, or $0.023 per share for the quarter ended March 31, 2007. For the six-month period ending March 31, 2008, revenues increased by $2,829,044, or approximately 13.4%, from $21,037,748 to $23,866,792, compared to the six-month period ended March 31, 2007. Gross profit decreased by $386,080, or approximately 8.1%, from $4,784,600 to $4,398,520, compared to the six-month period ended March 31, 2007. Net income decreased by $284,924, or approximately 26.8%, from $1,062,264 to $777,340, compared to the six-month period ended March 31, 2007. Additional summarized financial information for the period is available at the financial section of this website. July 2, 2008
Net revenues for the first fiscal quarter of 2008 (the three months ended December 31, 2007) were $11,662,852, an increase of $1,125,428 from the $10,537,424 recorded in the quarter ended December 31, 2006. Gross profit for the first quarter of fiscal 2008 was $2,154,900, a decrease of $347,724 from the $2,502,624 recorded for the first quarter of fiscal 2007. Net income for the quarter ended December 31, 2007 was $396,216, or $0.021 per share, compared to $637,337, or $0.034 per share for the quarter ended December 31, 2006. Additional summarized financial information for the period is available at the financial section of this website. March 7, 2008
Revenue for the year ended September 30, 2007 declined $598,501 or 1.2% percent to $47,735,418 from $48,333,919. Gross profit for the year declined $259,068 to $10,293,525. Operating income was $2,800,537, a decrease of $1,271,982. For the 4th quarter ending September 30, 2007, revenue declined $1,214,276 or 8.4% to $13,224,782. Gross profit declined $811,849 to $2,349,730. Operating income was $608,241, a decline of $935,818. Net income for the quarter was $763,941 or 4.1 cents per share, compared to $1,793,889 or 9.6 cents per share for the 4th quarter of September 30, 2006. For more financial results, please refer to the financial section of this website. December 18, 2007
During the three-month period ending June 30, 2007, revenues increased by $2,690,298 to $13,472,887 as compared to $10,782,589 for the three-month period ending June 30, 2006. Operating income increased $114,905 to $673,558. Net income for the quarter was $596,025, or 3.2 cents per share, compared to $286,631, or 1.5 cents per share, for the third quarter of 2006. For the nine months ended June 30, 2007, the Company had gross revenues of $34,510,636 compared to revenues of $33,894,861 for the nine months ended June 30, 2006. Operating income decreased $336,164 to $2,192,296. Interest and other expenses for the period decreased by $311,110. Net income for the nine months was $1,658,288 (8.9 cents per share) compared to $1,683,342 (9.0 cents per share), a decrease of $25,054. The Company's independent auditors are completing field work on the fiscal year operations. The Company will post those results, expected to occur within the next month, after the audit is complete. July 5, 2007
Net revenues for the second quarter ending March 31, 2007 were $10,500,324, an increase of $398,322 from the $10,102,002 recorded in the quarter ended March 31, 2006. Gross profit for the second quarter of fiscal 2007 was $2,281,976, a decrease of $284,879 from $2,566,855 from the prior year. Operating income for the second quarter was $645,451, a decline of $298,661 from $944,112 for the second quarter 2006. Net income for the quarter ended March 31, 2007 was $424,927, or $0.0228 per share compared to $601,190 or $0.0323 per share in the same quarter of 2006. For more financial results, please refer to the financial section of the website. April 13, 2007
Net revenues for the first fiscal quarter of 2007 (the 3 months ended December 31, 2006) were $10,537,424, a decrease of $2,230,914 from the $12,768,338 recorded in the quarter ended December 31, 2005. Gross Profit for the first quarter of fiscal 2007 was $2,502,624, a decrease of $182,274 from $2,684,898 for the first quarter of fiscal 2006. Operating income for the quaarter was $873,287, a decrease of $152,495 from the 1,025,782 for the first fiscal quarter of 2006. Net Income for the quarter ended December 31, 2006 was $637,337, or $0.034 per share, versus $795,521, or $0.043 per share, for the quarter ended December 31, 2005. After the quarter, the Company adopted a nonstatutory stock option plan which authorized 3,000,000 shares of common stock to be optioned and sold to employees and consultants of the Company and its subsidiaries. This plan is currently the only active option plan for the Company. In February 2007, the Board of Directors granted 900,000 options under this plan. The Company will post this release and summarized year-end financial information on its website at www.treeconresources.com. December 29, 2006
Although revenue for the year ended September 30, 2006 declined 9.5 percent to $48,334,000 from $53,402,000 for FY 2005, the decline was more than offset by improvement in the gross profit margins at both the equipment and sawmill divisions. Net income for the fourth quarter was $1,794,000 or 9.6 cents per share, compared to $1,126,000 or 6.0 cents per share for the same period in FY 2005. Fourth quarter results were enhanced by the company's investment in real estate whereby the company recognized oil industry related right-of-way and drill site income. August 25, 2006
During the three-month period ending June 30, 2006, revenues decreased by $4,377,985, or approximately 28.9%, from $15,160,574 to $10,782,589. Net income for the quarter ending June 30, 2006 was $286,631, or 1.5 cents per share compared to $361,489 or 1.9 cents per share in the same quarter of 2005. Gross profit for the third quarter of fiscal 2006 was $2,139,476 which was an increase of $24,056 from $2,115,420 from the third quarter of fiscal 2005. Operating income for the third quarter of 2006 increased by $49,222, from $509,431 to $558,653 over the same quarter of 2005. For the nine months ended June 30, 2006 the Company had gross revenues of $33,894,861 as compared to revenues of $38,812,959 for the nine months ended June 30, 2005. Net income was $1,683,342 or 9.0 cents per share for the nine months ended June 30, 2006 as compared to net income of $2,081,955 or 11.0 cents per share for the nine months ended June 30, 2005. Mike Boatman, President of TreeCon Resources, said that revenues were down as a result of the continued softness in the equipment market. However, the decline in revenues was offset by an improvement in gross profit margin. Net income was down, primarily due to a $124,112 increase in interest expense related to higher interest rates. June 1, 2006
Net income for the quarter that ended March 31, 2006 was $601,190 or $0.0323 per share, compared to $0.0436 per share in the same quarter of 2005. Net income was down primarily due to a $248,400 increase in interest expense related to financing for the purchase of approximately $2,000,000 in timberland currently held for sale, and higher interest rates on other outstanding debt. The company is currently evaluating offers for this timberland. Revenues were down as a result of weather-related softness in the equipment business and reduced operations at the company's sawmill as the company repaired facilities damaged by the storms of last fall. The facilities have been repaired, and the sawmill is now in full operation. Mr. Boatman said that gross profit for the second quarter of fiscal 2006 was $2,566,855, which was an increase of $48,241 from $2,518,614 for the second quarter of fiscal 2005. April 26, 2006
"Mr. Tanner will retain his position of president of an unrelated company and work with TreeCon's board to secure investments in the company by the Creasy Group and other investment groups," said TreeCon Resources CEO Mike Boatman. "He will also review and provide an evaluation of certain proposed acquisitions to the board." Mr. Tanner previously served as president and CEO of the company from 1992 to 1997 when it was named Polyphase. After certain projects are completed, it is expected that Mr. Tanner will assume the presidency of the company. Mr. Tanner and the board agreed on a structure of convertible preferred stock options for the various investment groups. This will include members of current management, the Creasy Group and others to provide capital for reduction of debt and expansion of the company. The preferred stock will consist of six classes from A to A5. There are a number of restrictions applicable to the preferred stock relating to when the options may be exercised and when the options can be converted. The common stock is subject to a two-year holding period after conversion. The preferred stock will carry various coupons ranging to 7 percent. All other options were cancelled prior to approval of this option plan.  Until all of the Class A options are exercised, none of the other options will be exercisable. If all of the options for preferred stock are exercised, the company's net worth would increase by $250 million. If all preferred stock is converted to common, it would require the issuance of 71,000,000 new shares. March 2, 2006
During the three-months ended December 31, 2005, revenues rose by US $1,040,789, or approximately 10%, to $12,768,338, compared to revenues of $11,727,549 for the three months ended December 31, 2004. Net income for the quarter ended December 31, 2005 was $795,521, or 4.3 cents per share, compared to $909,028, or 4.9 cents per share, for the quarter ended December 31, 2004, including a one-time gain of $287,427 on the sale of assets during the quarter ended December 31, 2004. "The results of our first quarter of fiscal year 2006 were impressive," said TreeCon Resources CEO Mike Boatman. "Gross profit for the first quarter of fiscal 2006 was $2,684,898, which is an increase of $391,322 from the $2,293,576 in the first quarter of fiscal 2005. Operating income for the first quarter of fiscal 2006 was $1,025,782, an increase of $220,135 from $805,647 for fiscal 2005." The Company will post summarized financial results for the first quarter 2006 and audited financial information for fiscal year 2005 online at www.treeconresources.com. December 29, 2005
Revenues for the year ended September 30, 2005 increased 15% to $53,400,000 from $46,400,000 for FY 2004. Net income for the fourth quarter was $1,100,000, or 6 cents per share, compared to $186,000, or 1 cent per share, for the same period in FY 2004. "We are pleased with our results in fiscal year 2005," said TreeCon Recources CEO Mike Boatman. "We believe that the market for products will remain strong in fiscal 2006, helped in part by rebuilding efforts on the gulf coast." November 14, 2005
For the nine months ended June 30, 2005, the Company had gross revenues of $38,813,000 as compared to revenues of $32,993,000 for the nine months ended June 30, 2004. Net income was $2,082,000 or $0.11 per share for the nine months ended June 30, 2005 as compared to net income of $528,000 or $0.03 per share for the nine months ended June 30, 2004. September 24, 2004
Upon filing the Form 15, the Company's obligation to file certain reports and forms, including Forms 10-K, 10-Q and 8-K, with the SEC will be immediately suspended. The Company intends to continue making its financial information available to shareholders. The Company anticipates that its common stock will be quoted over-the-counter in the Pink Sheets following the Form 15 filing to the extent that market makers commit to make a market in its shares, although the Company can provide no assurance that trading in the stock will continue. August 13, 2004
July 30, 2004
Upon Filing a Form 15, the Company's obligation to file certain reports and forms with the SEC, including Forms 10-K, 10-Q and 8-K, will be immediately suspended. The Company anticipates that its stock will be quoted over-the-counter in the Pink Sheets following the Form 15 filing to the extent that market makers commit to make a market in its shares, although the Company can provide no assurance that trading in the stock will continue. Mike Boatman, President and CEO of TreeCon, commented that the significant and increasing administrative expense of remaining a public company has made it un-economical to remain an SEC reporting company. April 30, 2004
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