TransNet Reports Net Loss

//August 9, 2005//

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IT company hopes to win contracts with new schools.TransNet (OTC Bulletin Board: TRNT) in Branchburg, an information technology sales and service company, reported a net loss of $141,212 on revenue of $7.7 million for its fiscal-2005 second quarter ended December 31, 2004. The company attributed the loss to increased selling, general and administrative expenses. That compares with earnings of $342 on revenue of $7.4 million for the prior-year period.

For the six-month period ended December 31, the company reported net earnings of $23,188 on revenue of $18.4 million. That compares with net earnings of $34,333 on revenue of $17 million for the prior-year period. TransNet wants to go after contracts for IT equipment for the new schools that are expected to be built this year under direction of the New Jersey Schools Construction Corp.

Shares of TransNet were down $0.05 to $1.53 in midday trading.