Tajima embroidery systems provider Hirsch H1 net sales up 29.5%

04 Oct '05

2 min read

Tajima embroidery systems source provider Hirsch International Corp announced its financial results for the second quarter and six months ended July 30, 2005.

Net sales from continuing operations were $12.4 million for the quarter ended July 30, 2005, versus $10.6 million for last year's fiscal second quarter, representing a 17 percent increase of $1.8 million. For the six months ended July 30, 2005, net sales increased $5.9 million or 29.5 percent from $20.0 million for the comparable prior six month period.

For the quarter ended July 30, 2005, gross profit increased $0.4 million to $4.0 million from $3.6 million and increased $1.6 million to $8.2 million from $6.6 million for the six months ended July 30, 2005.

Selling, general and administrative expenses and overall operating expense decreased $0.3 million from $4.1 million to $3.8 million for the quarter ended July 2005 and decreased $.02 million for the comparable six month period. Included in the six months ended July 30, 2005, was a $147,000 charge for severance costs associated with Company's continuing reorganization.

For the quarter ended July 30, 2005 the company reported net income of $0.5 million an improvement of $1.2 million from net loss of $0.7 million from the same quarter last year. Net loss for the prior fiscal quarter included loss from discontinued operations of $0.1 million. For the six months ended July 30, 2005, the company reported net income of $0.6 million an increase of $2.4 million from the loss of $1.8 million for the six months ended July 31, 2004.

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