Quarterly leather-upholstery net sales were at EUR 113.3 million, down 8.2 percent from EUR 123.4 million in third quarter of 2006 and fabric-upholstery net sales were at EUR 12.0 million down by 35.5 percent from EUR 18.6 million reported one year ago.
Total sales for Natuzzi branded products decreased by 17.9 percent at EUR 68.8 million, and sales for Italsofa products by 2.9 percent at EUR 56.5 percent, respectively from EUR 83.8 million and EUR 58.2 million reported one year ago.
GROSS & OPERATING RESULTS: For the quarter ended September 30, 2007, the Group reported a gross profit of EUR 38.6 million, down from EUR 51.1 million of last year comparable period. Gross profit as a percent of sales for the third quarter 2007 decreased at 27.3 percent from 32.2 percent in third quarter 2006.
The Group reported for the third quarter of 2007 an operating loss of EUR 11.0 million as compared to an operating loss of EUR 1.1 million reported one year ago.
FOREX AND TAXES: During the third quarter of 2007 the Group reported a net foreign exchange loss of EUR 5.9 million, as compared to a net foreign exchange loss of EUR 0.4 million in last year third quarter.
In the same period, the Group reported a deferred tax asset for EUR 1.9 million.
NET RESULT AND GROUP EARNINGS PER COMPANY'S SHARE: For the quarter ended on September 30, 2007, the Group reported net losses of EUR 14.1 million (or EUR 0.26 losses per share), versus Group's net earnings of EUR 0.8 million (or EUR 0.01 earnings per share) reported for third quarter of 2006.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
