Home / Knowledge / News / Fashion / Heelys brand resonates very well in Europe with target consumer
Heelys brand resonates very well in Europe with target consumer
05
Mar '08
Heelys Inc reported the following financial results for the fourth quarter and fiscal year ended December 31, 2007.

Net sales for the fourth quarter were $9.8 million compared to net sales of $71.1 million in the fourth quarter of 2006. The Company's top-line was negatively impacted by approximately $3.0 million related to an increase in its reserve for Marketing Discretionary Fund (MDF) assistance and approximately $2.7 million for an increase in its returns reserve. Excluding the impact, net sales for the fourth quarter of 2007 were $15.5 million.

Gross profit for the fourth quarter was a negative $1.7 million, compared to gross profit of $25.1 million, or 35.3% of net sales in the fourth quarter of 2006. Included in this year's fourth quarter gross profit is a charge of approximately $1.5 million related to the write-down of certain inventory on the Company's balance sheet and the aforementioned increases related to the MDF assistance and reserve for returns.

Gross profit net of these adjustments for the fourth quarter of 2007 was $4.5 million, or 29.0%. SG&A for the fourth quarter was $7.2 million compared to $7.1 million, or 10.0% of net sales in the corresponding period last year.

The Company reported a net loss for the quarter of $5.5 million, or ($0.20) per diluted share compared to net income of $11.5 million, or $0.44 per diluted share in the fourth quarter of 2006. Excluding the impact on sales and gross margins from the aforementioned additional expenses, the Company reported a net loss of $1.2 million, or ($0.04) per diluted share in the fourth quarter of 2007.


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search