Signature Eyewear Reports Second Quarter Earnings; 18th Consecutive Profitable Quarter
07 6월 2010 - 10:00PM
Marketwired
Signature Eyewear, Inc. (OTCBB: SEYE) reported net income of
$157,000 on net sales of $5.9 million for the quarter ended April
30, 2010. This compares to net income of $216,000 on net sales of
$6.1 million for the quarter ended April 30, 2009. This is the
company's 18th consecutive profitable quarter.
For the six months ended April 30, 2010, compared to the
comparable period in fiscal 2009, net income decreased to $299,000
from $415,000 while net sales declined to $11.0 million from $12.1
million.
Net sales continue to be adversely affected by the recession.
While unit sales have remained relatively constant between the 2009
and 2010 periods, the average sales price of Signature's frames has
declined as consumers purchase lower cost frames and the Company
offers higher customer discounts. In addition, net sales in the
2010 periods have been impacted by production delays at the
Company's Chinese frame manufacturers, due primarily to labor
shortages. These labor shortages may result in production delays
for at least the next several quarters and higher frame prices.
The decrease in net income in the 2010 periods was due primarily
to net sales and a lower gross margin partially offset by lower
operating expenses and interest expense.
"We are continuing to contain our costs during a very
challenging global economy," stated Michael Prince, Chief Executive
Officer of Signature. "These efforts, together with the
consumer-friendly price structure of our lines, have enabled us to
continue to operate profitably and improve our balance sheet in
this difficult environment."
The Company has further reduced its debt, from $4.2 million at
October 31, 2009, to $3.7 million at April 30, 2010, its lowest
level in more than 10 years.
About Signature Eyewear
Signature Eyewear is a leading designer and marketer of
prescription eyeglass frames and sunglasses under internationally
recognized brand names, including bebe, Carmen Marc Valvo, Cutter
and Buck, Hart Schaffner Marx, Hummer, Laura Ashley, Michael Stars
and Nicole Miller. Signature Eyewear's products are sold worldwide
to opticians, optometrists and ophthalmologists and to optical and
retail chains. For information about Signature Eyewear, visit the
Company's website at http://www.seye.com.
The above news release contains forward-looking statements.
These statements are based on assumptions that management believes
are reasonable based on currently available information, and
include statements regarding the intent, belief or current
expectations of the Company and its management. Readers are
cautioned that any such forward-looking statements are not
guarantees of future performance, and are subject to a wide range
of business risks, external factors and uncertainties, including
increasing market interest rates. Actual results may differ
materially from those indicated by such forward-looking statements.
For additional information, please consult the Company's most
recent public filings and Form 10-K for the year ended October 31,
2009. The Company assumes no obligation to update the information
contained in this press release, whether as a result of new
information, future events or otherwise.
FOR FURTHER INFORMATION, CONTACT: Devon Blaine The Blaine Group
310/360-1499 310/360-1498 (FAX) Email Contact
Signature Eyewear (CE) (USOTC:SEYE)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Signature Eyewear (CE) (USOTC:SEYE)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024