“Our third quarter top line results were impacted in part by a slow down in sales of higher priced items,” stated Ed Dayoob, Whitehall's Chief Executive Officer. “We are encouraged by the increase in overall unit sales as a result of our initiative to increase unit sales in our gold category. However, we continue to face many challenges both internally and externally.
Under the leadership of our new management team, we have implemented several strategic initiatives to improve our overall business model including a new merchandising strategy that will allow us to better manage inventory levels. We have also made changes to our field staffing and compensation plans to better incentivize sales members. While we have made some progress, we still have a lot of additional work ahead of us."
The net loss in the first nine months of fiscal 2007 was $49.5 million, or $1.62 per basic and diluted share, versus a net loss of $46.8 million, or $1.85 per basic and diluted share on a proforma combined basis, in the equivalent period last year.
The net loss for the first nine months of fiscal 2006 consisted of a $16.2 million net loss for the predecessor in the Company's 2006 merger for the period of February 1, 2006 through June 8, 2006, a $29.6 million net loss for the successor in its 2006 merger for the period of June 9, 2006 through October 31, 2006 and proforma adjustments that increased the loss by $1.0 million.
-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)")
