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Imprinted sportswear marketer posts Q1 earnings

03
Apr '08
Next Inc an emerging leader in the imprinted sportswear products industry announced its fiscal first quarter earnings for the three months ended February 29, 2008. The Company will file its Form 10-Q for the quarter on Friday, April 4, 2008.

Net sales were $2,540,923 for the three months ended February 29, 2008, compared to $3,625,923 for the three months ended March 2, 2007.

The Company lost $335,415, or $0.02 per share for the first quarter of 2008 compared to prior year loss of $390,956, or $0.02 per share for the same period. There were no special, one-time credits associated with either quarter's results.

Mr. David Cole, the Company's CFO, stated, “The trend of improving gross operating margin we first reported in last year's first quarter, again yielded tangible results in this most recently concluded quarter. Our net loss was reduced by fourteen percent on approximately 70% of the net sales volume.”

Cole continued, “We will continue to focus on controlling costs because that focus has resulted favorably on our operating results over the last fifteen months in a difficult selling environment.

We will also continue to emphasize wise management of cash within the established parameters of our lending agreements.”

Mr. Robert Budd, the Company's CEO, stated, “We continue to be pleased with the trend of improvements in quarter over quarter operating margin.

This is one of the levers that we have control over and our people are doing a good job managing our costs.


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