News Flash

R.G. Barry Corp reports strong Q1 2007 performance

06 Nov '06

2 min read

At-home comfort footwear marketer R.G. Barry Corporation, the Dearfoams company, reported a strong overall performance for the first quarter of fiscal 2007, ended September 30, 2006.

Operating Results
For the quarter, the Company reported:
Net earnings up 47 percent at $6.3 million, or $0.63 net earnings per basic share and $0.61 net earnings per diluted share.

In the corresponding period one year ago, the company reported net earnings of $4.3 million, or $0.43 net earnings per basic share and $0.42 net earnings per diluted share.

Net sales of $37.5 million were up 5.9 percent versus net sales of $35.4 million reported for the comparable period one year ago.

Gross profit as a percent of sales was relatively flat at 40.5 percent.

Consolidated selling, general and administrative costs fell approximately 9.5 percent to $8.5 million from $9.3 million in the equivalent period last year; and

Restructuring charges were approximately $74,000 down from $529,355 in the corresponding period one year ago.

Management Comments
“We are very pleased with our results and believe that they reflect the health of our business and the strong relationships we enjoy with our retailing partners,” said Greg Tunney, President and Chief Executive Officer.

“As we enter the 2006 holiday season, we are upbeat about our potential and that of retail as a whole.

Conference Call/Webcast
R.G. Barry Corporationsenior management will conduct a conference call for all interested parties at 10 a.m. EST today. Management will discuss the Company's performance, its plans for the future and will accept questions from participants.

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