Home / Knowledge / News / Textiles / Design Within Reach Inc declares Q2 preliminary results

Design Within Reach Inc declares Q2 preliminary results

06
Aug '05
San Francisco based home accessories provider Design Within Reach reported preliminary financial results for the second quarter ended July 2, 2005. The results are preliminary due to a delay following the Company's May 2005 systems conversion and pending auditor review.

Net sales for the second quarter of 2005 were $41.9 million, an increase of 49 percent over the $28.2 million recorded in the same period last year. Net earnings for the second quarter of 2005 were $1.4 million, or $0.09 per diluted share on approximately 14.8 million shares outstanding, compared to $806,000, or $0.07 per diluted share on approximately 11.7 million shares outstanding, in the second quarter of 2004. Earnings from operations were $2.2 million compared to $1.4 million the prior year.

For the six months ended July 2, 2005, net sales increased 53 percent to $77.4 million from $50.7 million for the same period in 2004. Net earnings for the first six months of 2005 were $2.3 million, or $0.15 per diluted share, compared to $1.3 million, or $0.11 per diluted share, during the same period in 2004. For the six months ended July 2, 2005, earnings from operations was $3.4 million, compared to $2.2 million in the same six-month period in 2004.

"Company second quarter results continue to demonstrate our ability to expand into new markets and realize the operating leverage of their integrated sales platform and single common inventory," said Wayne Badovinus, President and Chief Executive Officer. "With a total of 51 Studios in operation, they are experiencing robust sales growth, but their strong top-line results continue to be impacted at the gross margin level, primarily due to the negative effect of the Euro exchange rate year-over-year and increased shipping costs."


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Nov 2020

Japan aims to expand CPTPP trade pact

Japanese Prime Minister Yoshihide Suga recently said his country...

Pic: Shutterstock

Textiles | On 23rd Nov 2020

Bangladesh gets $256.5 mn from Green Climate Fund

Bangladesh recently received $256.5 million from the UN Green Climate ...

Pic: Mulberry

Apparel/Garments | On 23rd Nov 2020

Frasers raises Mulberry stake to 37%, considers offer

The Frasers Group, formerly called Sports Direct, recently announced...

Interviews View All

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search