Hirsch reports continued improvement in Q2 net sales
10 Aug '06
3 min read
Hirsch International Corp, the leading provider of advanced embroidery systems and related support services in the United States, reported its financial results for the second quarter and five months ended June 30, 2006.
Highlights of those results are as follows:
-- Net sales were $13.7 million for the quarter ended June 30, 2006, an improvement of $1.1 million or 8.7% over net sales of $12.6 million for last year's fiscal second quarter which ended July 30th 2005. For the five months ended June 30th 2006, net sales were $22.3 million versus $26.3 million for the prior six-month period which ended July 30th 2005.
-- For the quarter ended June 30th 2006, gross profit increased $0.2 million to $4.6 million from $4.4 million for the quarter ended July 30th 2005. For the five months ended June 30th 2006, gross profit was $7.6 million or 34.2% of net sales as compared to $8.6 million for the six months ended July 30th 2005 or 32.7% of net sales.
-- For the quarter ended June 30th 2006 the company reported net income of $0.6 million, an improvement of $0.1 million from net income of $0.5 million for the quarter ended July 30, 2005. For the five months ended June 30th 2006, the company reported net income of $0.9 million, an increase of $0.3 million from the net income of $0.6 million for the six months ended July 30th 2005.
"I am very proud of the entire Hirsch team and their continued dedication and focus on serving our customers,resulting in yet another positive quarter for the Company," said Paul Gallagher, President and CEO of Hirsch.
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