Casual bags maker Samsonite posts Q2 results

09 Sep '05

3 min read

Chief Executive Officer, Marcello Bottoli, included, "The Company is reporting very solid operating performance for the first six months of fiscal year 2006 with sales growth of 10.3 percent, consolidated gross profit margins improved by 220 basis points to 48.2%, and Adjusted EBITDA improved by $12.5 million, or 29.2 percent vs. the same period of last fiscal year.

Richard Wiley, Chief Financial Officer, commented, "The Company continues to build a stronger liquidity position as the result of improvements in operating cash flow and efficient working capital management. The Company's debt net of cash leverage ratio declined to 2.1x trailing twelve-month Adjusted EBITDA and working capital efficiency on a twelve-month average balance basis declined to 19.0 percent at quarter end."

Global travel solutions provider Samsonite is one of the world's largest manufacturers and distributors of luggage and markets luggage, casual bags, business cases and travel-related products under brands such as SAMSONITE, AMERICAN TOURISTER, LARK, LACOSTE and SAMSONITE black label. It also offers discover luggage, handbags, backpacks, bags, computer cases, laptop cases and travel accessories.

Samsonite Corporation

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