FIRSTIME DESIGN LIMITED ANNOUNCES FOURTH QUARTER RESULTS
05 2월 2013 - 7:56AM
OTC Markets
FIRSTIME DESIGN LIMITED (FTDL) today announced record net sales for
the twelve months ended December 31, 2012, at $7,646,000 an
increase of 62.5% compared to the same period last year. The
Company reported consolidated net income of $446,000 or $0.26 per
common share, as compared to a net loss of $1,205,000 or ($0.76)
per common share last year. Three month net income ended December
31, 2012, was $110,000 or $0.07 per common share, as compared to a
net loss of $803,000 or ($0.50) per common share last year; and
gross margins at 17 percent compared to 16 percent in the same
quarter last year.
“We are pleased with our results as they demonstrate ongoing
progress in our revenue growth and profitability,” said Christopher
D. Bering, FirsTime’s President and COO. “Total revenues were at
record levels, driven by large initial orders from new customers as
well as large expansion orders from major existing customers;
profitable sales growth, from existing and new customers, has been
a key area of focus for us in 2012.”
Mr. Bering concluded, "We are encouraged by the record level of
sales and earnings achieved in 2012. Our management team remains
committed to sustaining profitable revenue growth, further
improving operating margins, generating cash flows and maintaining
a strong balance sheet."
About FirsTime Design Limited
FirsTime Design Limited, through it's subsidiary, License Products,
Inc., does business as FirsTime Manufactory, an industry leading
designer, marketer and distributor of timepieces and home decor
products sold through national and regional retailers.
FirsTime Design (CE) (USOTC:FTDL)
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