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Sofabed specialist Jennifer announces Q4 sales
02
Jan '08
Jennifer Convertibles Inc announced its financial results for the fourth quarter and fiscal year ended August 25, 2007.

For the fourth quarter, revenue from continuing operations increased by 3.9% to $37.5 million from the $36.1million reported for the same period last year. For the fiscal year 2007, revenue from continuing operations decreased 2.2% to $136.6 million from the $139.7 reported in the same period last year.

For the fourth quarter, the Company generated net income of $1,741,000, or $0.22 and $0.20 per basic and diluted share, respectively, compared to net income of $1,573,000, or $0.21 and $0.18 per basic and diluted share for the same period last year. For the fiscal year 2007, ne t income was $3,971,000 or $0.51 and $0.45 per basic and diluted share, respectively, compared to net income of $5,220,000 or $0.71 and $0.62 per basic and diluted share for the same period last year.

For the fourth quarter, operating margins from continuing operations increase to 32.9% as a percentage of revenue from continuing operations compared to 32.0% for the same period last year. For the twelve month period, operating margins from continuing operations decreased to 31.2% compared to 31.6% for the same period last year.

For the fourth quarter, selling, general and administrative expenses from continuing operations increased to 27.9% as a percentage of revenue from continuing operations compared to 26.8% for the same period last year. For the twelve month period, selling, general and administrative expenses from continuing operations increased to 28.0% compared to 27.4% for the same period last year.

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