Embroidery machines dealer Tajima-Hirsch announced its financial results for the third quarter and nine months ended October 29, 2005.
Net sales from continuing operations were $12.6 million for the quarter ended October 29, 2005, versus $11.9 million for last year's fiscal third quarter, representing a 5.9 Percent increase of $0.7 million. For the nine months ended October 29, 2005, net sales increased $6.6 million or 20.7 Percent from $31.9 million to $38.5 million.
For the quarter ended October 29, 2005 period, gross profit increased $0.2 million to $4.1 million from $3.9 million and increased $1.8 million from $10.5 million to $12.3 for the nine months ended October 29, 2005.
Selling, general and administrative expenses and overall operating expenses increased $0.2 million from $3.8 million to $4.0 million for the quarter ended October 29, 2005 and decreased $0.1 million to $11.9 million from $12.0 million for the nine months.
Income from continuing operations for the quarter ended October 29, 2005 improved by $300,000 to $243,000 from a loss of $57,000 for the previous year's fiscal third quarter. For the nine months ended October 29, 2005, income from continuing operations increased by $2.5 million to $829,000 from a loss of $1.6 million.
Net income for the quarter ended October 29, 2005 was $235,000 as compared to $508,000 for last year's fiscal third quarter. Included in last year's results was the gain on the sale of the company's previous subsidiary Hometown Threads of $943,000 and a loss on its discontinued operations of $374,000.
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