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R.G. Barry's revamp shows up in 41.2% qtly profits
16 Aug '05
3 min read
Comfort footwear marketer R.G. Barry Corporation reported operating results for the second quarter and first half ended July 2, 2005.
For the second quarter, the Company reported:
- Net sales were $16.2 million compared to $14.5 million in the second quarter of 2004.
- A quarterly net loss of approximately $113,000, or $0.01 cent per share loss, compared to a quarterly net loss of $8.9 million, or $0.91 per share loss, in the second quarter of 2004.
The 2004 quarterly net loss included restructuring and asset impairment charges of about $3.6 million related to the Company's phase out of its manufacturing operations and implementation of a new business model. Comparable charges in the second quarter 2005 totaled $108,000.
- Quarterly gross profit as a percent of sales improved to 42.2 percent under the Company's revamped operating model compared to 27.8 percent in the second quarter of 2004.
- Selling, general and administrative expenses also declined in the quarter to approximately $6.8 million from approximately $8.9 million in the comparable period of 2004.
For the half, the Company reported:
- Net sales were $33.2 million compared to net sales of $32.9 million in the first half of 2004.
- The Company's first half net loss was approximately $1.0 million, or a $0.10 cents per share loss, compared to a net loss of $23.1 million, or $2.34 per share loss, in the first half of 2004. Included in the 2004 first half net loss were restructuring and asset impairment charges of $11.9 million. Comparable charges in the first half of 2005 totaled approximately $350,000.
For the second quarter, the Company reported:
- Net sales were $16.2 million compared to $14.5 million in the second quarter of 2004.
- A quarterly net loss of approximately $113,000, or $0.01 cent per share loss, compared to a quarterly net loss of $8.9 million, or $0.91 per share loss, in the second quarter of 2004.
The 2004 quarterly net loss included restructuring and asset impairment charges of about $3.6 million related to the Company's phase out of its manufacturing operations and implementation of a new business model. Comparable charges in the second quarter 2005 totaled $108,000.
- Quarterly gross profit as a percent of sales improved to 42.2 percent under the Company's revamped operating model compared to 27.8 percent in the second quarter of 2004.
- Selling, general and administrative expenses also declined in the quarter to approximately $6.8 million from approximately $8.9 million in the comparable period of 2004.
For the half, the Company reported:
- Net sales were $33.2 million compared to net sales of $32.9 million in the first half of 2004.
- The Company's first half net loss was approximately $1.0 million, or a $0.10 cents per share loss, compared to a net loss of $23.1 million, or $2.34 per share loss, in the first half of 2004. Included in the 2004 first half net loss were restructuring and asset impairment charges of $11.9 million. Comparable charges in the first half of 2005 totaled approximately $350,000.
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