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McRae Industries updates guidance for Q3 fiscal 2007
28 Jun '07
3 min read
primarily attributable to reduced net revenues for the bar code and military boot business that was partially offset by higher net revenues for the western and work boot business.
Gross profit, as a percentage of net revenues, slipped from 28.3% for the third quarter of fiscal 2006 to 27.8% for the third quarter of fiscal 2007, primarily attributable to lower margins in the bar code and western and work boot businesses.
Consolidated operating costs and expenses, including research and development costs, amounted to $3.8 million for the third quarter of fiscal 2007 as compared to $3.3 million for the third quarter of fiscal 2006.
This increase in operating costs and expenses related primarily to a number of additional sales support costs associated with our western and work boot business, higher group health insurance payments, and facility renovation costs, which were partially offset by lower research and development costs and employee benefit charges.
As a result of the above, the consolidated operating profit for the third quarter of fiscal 2007 totaled $670,000 as compared to $1.5 million for the third quarter of fiscal 2006.
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Gross profit, as a percentage of net revenues, slipped from 28.3% for the third quarter of fiscal 2006 to 27.8% for the third quarter of fiscal 2007, primarily attributable to lower margins in the bar code and western and work boot businesses.
Consolidated operating costs and expenses, including research and development costs, amounted to $3.8 million for the third quarter of fiscal 2007 as compared to $3.3 million for the third quarter of fiscal 2006.
This increase in operating costs and expenses related primarily to a number of additional sales support costs associated with our western and work boot business, higher group health insurance payments, and facility renovation costs, which were partially offset by lower research and development costs and employee benefit charges.
As a result of the above, the consolidated operating profit for the third quarter of fiscal 2007 totaled $670,000 as compared to $1.5 million for the third quarter of fiscal 2006.
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McRae Industries Inc
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