News Flash

House of Taylor achieves operating profit for Q4 2006

17 Apr '07

3 min read

"The day-to-day support from Dame Elizabeth Taylor and Kathy Ireland, both major shareholders of the company, has been integral to our product design and marketing outreach, as well as the company's growth to date," Abramov added.

"House of Taylor Jewelry is distinguished among its competitors, in large part, because of the consumer awareness and loyalty gained through the media outreach of Ms. Taylor and Ms. Ireland. These two world renowned icons represent a critical element of House of Taylor Jewelry's ability to touch consumers and attract independent jewelry retailers worldwide."

During the fourth quarter, the company had income from operations of $168,000, compared with a loss from operations of $928,000 in the immediately preceding third quarter and a loss from operations of $1.6 million in the comparable year-ago period. For the full year, the company posted a loss from operations of $4.8 million in 2006, compared with a loss from operations of $4.3 million a year ago.

House of Taylor Jewelry recorded a 2006 fourth-quarter net loss of $2.8 million, equal to $.07 per share, which includes $1.1 million in non-cash interest expense for amortization of debt issuance costs and $1.7 million in non-cash loss on the change in warrant liability, compared with a net loss of $1.7 million, or $.04 per share, for the comparable period in 2005.

The net loss for the 2006 full year amounted to $8.4 million, or $0.21 per share, which includes$2.7 million in non-cash interest expense for amortization of debt issuance costs. For 2005, the company reported a net loss of $3.5 million, or $0.10 per share, which included a $1 million gain on settlement of a payable to a vendor.

Click here to read more:

House of Taylor Jewelry Inc

More House of Taylor Jewelry Inc News... More Fashion News - United States Of America...