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Dye maker Burke Mills reports Q3 results
17 Nov '05
2 min read
North Carolina based Burke Mills Inc announces operating results for the thirteen weeks and thirty-nine weeks ended October 1, 2005.
Net sales for the third quarter decreased by 6.4 percent to $5,769,000 compared to $6,162,000 for the third quarter of 2004. Pounds shipped decreased by 12.8 percent. Although pounds shipped declined by 12.8 percent, sales dollars were supported by price increases and a decline in commission sales (the dyeing of yarn owned by the customer).
The company recorded a net loss of $601,000 for the thirteen-week period compared to a net loss of $322,000 for the same period of 2004. This resulted in a net loss per share of $0.22 compared to a net loss per share of $0.12 in 2004.
Net sales for the nine months were basically equal. Pounds shipped decreased by 2.6 percent. Although sales were about equal for the nine months, only the first quarter was a strong sales quarter. The second and third quarter sales were less than 2004. The Company's customers continue to experience strong competition in upholstery from imports.
The company recorded a net loss for the three quarters of $1,567,000 compared to a net loss of $867,000 in 2004. This resulted in a net loss per share of $0.57 compared to a net loss per share of $0.32 in 2004.
Burke Mills was founded in 1948. When Frank Gaddy and Leon Guigou opened the first dyehouse in a 1200 square foot warehousejust outside Valdese, North Carolina. It began with eight employees and a capacity of 500 pounds per week. The business grew quickly and within two years Burke Mills was dyeing polyester, rayon and acetate wrap yarn.
Net sales for the third quarter decreased by 6.4 percent to $5,769,000 compared to $6,162,000 for the third quarter of 2004. Pounds shipped decreased by 12.8 percent. Although pounds shipped declined by 12.8 percent, sales dollars were supported by price increases and a decline in commission sales (the dyeing of yarn owned by the customer).
The company recorded a net loss of $601,000 for the thirteen-week period compared to a net loss of $322,000 for the same period of 2004. This resulted in a net loss per share of $0.22 compared to a net loss per share of $0.12 in 2004.
Net sales for the nine months were basically equal. Pounds shipped decreased by 2.6 percent. Although sales were about equal for the nine months, only the first quarter was a strong sales quarter. The second and third quarter sales were less than 2004. The Company's customers continue to experience strong competition in upholstery from imports.
The company recorded a net loss for the three quarters of $1,567,000 compared to a net loss of $867,000 in 2004. This resulted in a net loss per share of $0.57 compared to a net loss per share of $0.32 in 2004.
Burke Mills was founded in 1948. When Frank Gaddy and Leon Guigou opened the first dyehouse in a 1200 square foot warehousejust outside Valdese, North Carolina. It began with eight employees and a capacity of 500 pounds per week. The business grew quickly and within two years Burke Mills was dyeing polyester, rayon and acetate wrap yarn.
Burke Mills Inc
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