House of Taylor Jewelry Inc, an international jewelry company whose principal shareholders include entities owned by Dame Elizabeth Taylor and Kathy Ireland, reported significantly higher sales for the three and nine-month periods ended September 30, 2006, compared with the corresponding prior-year periods.
For the 2006 third quarter, net sales increased more than eight-fold to $12.0 million from $1.3 million in the same period a year ago and were up nearly five-fold from $2.5 million in the immediately preceding second quarter.
On a year-to-date basis, net sales rose sharply to $15.9 million from $3.2 million in the comparable prior-year period and exceeded the targeted $14 million threshold established for the nine months ended September 30, 2006 in connection with the placement of securities in May 2006.
Click here to view the comment of Jack Abramov, President and Chief Executive Officer.
The company narrowed its loss from operations to $928,094 in the 2006 third quarter from $2.1 million in the immediately preceding second quarter and from $997,498 in the year-ago period.
Including a loss on an adjustment of a warrant liability of $896,362 and interest expense of $1.4 million primarily related to the convertible notes, House of Taylor Jewelry sustained a third-quarter net loss of $3.1 million, or $0.08 per share, versus a net loss of $1.0 million, or $0.03 per share, a year earlier.
The net loss for the 2006 year-to-date period amounted to $5.5 million, or $0.14 per share, including a gain on an adjustment of a warrant liability of $1.7 million and interest expense of $2.3 million principally related to the convertible notes.
20240830145952.gif)
.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.")
