NEW BERLIN, Wis., Feb. 25, 2013 /PRNewswire/ -- 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.
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"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 its 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.
SOURCE FirsTime Design Limited