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Hancock Fabrics Q2 FY'13 losses narrow
11 Sep '13
3 min read
Selling, general and administrative expenses for the first half of fiscal 2013 including depreciation and amortization, increased by 80 basis points to 45.2% of sales from 44.4% of sales in the same period of the prior year. One-time items reduced selling, general and administrative expenses by $394,000 during the first half of fiscal 2012.
Operating income for the first half of fiscal 2013 was $32,000 compared to an operating loss of $3.2 million in the first half of the previous year.
EBITDA increased $2.9 million to $2.4 million for the first half of fiscal 2013 compared to a loss of $516,000 for the first half of last year.
Net loss was $3.1 million, or $0.15 per basic share, in the first half of fiscal 2013, compared to a net loss of $5.7 million, or $0.29 per basic share in the first half of fiscal 2012.
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