Langer reports net sales fall for 3 months ended June 30

24 Aug '05

6 min read

Net sales for the six months ended June 30, 2005 were approximately $20,449,000, as compared to approximately $12,311,000 for the six months ended June 30, 2004, an increase of approximately 66.1%. The principal reason for the increase in net sales, in the three and six months ended June 30, 2005, was the net sales generated by Silipos.

Gross profit as a percentage of net sales for the three months ended June 30, 2005 was approximately 45.4%, as compared to approximately 36.5% for the three months ended June 30, 2004. Gross profit as a percentage of net sales for the six months ended June 30, 2005 was approximately 46.3%, as compared to approximately 35.4% for the six months ended June 30, 2004. The principal reason for the increase in gross profit, in the three and six months ended June 30, 2005, was the gross profit contribution of Silipos.

General and administrative expenses for the three months ended June 30, 2005 were approximately $2,307,000, or approximately 23.0% as a percentage of net sales, as compared to approximately $1,344,000, or approximately 20.5% as a percentage of net sales for the three months ended June 30, 2004, representing an increase of approximately $963,000. General and administrative expenses for the six months ended June 30, 2005 were approximately $4,607,000, or approximately 22.5% as a percentage of net sales, as compared to approximately $2,518,000, or approximately 20.5% as a percentage of net sales for the six months ended June 30, 2004, representing an increase of approximately $2,089,000.

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