• Net shareholders' equity rose to $54.6 million from $45.9 million one year ago.
Management Comments "Fiscal 2010 was a great year for our Company," said Greg Tunney, President and Chief Executive Officer. "Our products performed well across the many retail channels we serve and our overall results exceeded both our annual operating plan and prior year's performance. We are very are happy with our consistent five-year pattern of revenue growth and strong earnings, despite some very challenging outside economic forces."
"We continue operating our business at levels of efficiency and excellence that allow us to pursue growth and diversification strategies while also offering an appropriate return and increasing value to our shareholders," added Jose Ibarra, Senior Vice President Finance and Chief Financial Officer. "Our financial metrics uniformly reflect the strength and consistency of our operating model and the solid foundation for growth we have prepared."
Mr. Tunney concluded, "The retail world continues to evolve and our challenge for the future is to continue to correctly position our business to profitably serve tomorrow's retailer. We believe that our multi-year investment in advertising and marketing the Dearfoams brand, our expansion into international markets with some key retailing partners and the successful integration of one or more category appropriate acquisitions into our business model this year will be among key factors that allow us to continue to lead our category and succeed in the long-term."
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
