Amisco's 1Q earnings rise 6.9%
By Furniture Today Staff -- Furniture Today, April 13, 2003
L'Islet, Quebec — L'Islet, Quebec— Metal furniture specialist Amisco said sales were up 4.1% and earnings rose 6.9% from a year ago in its first quarter ended March 1.
Management said it was satisfied with the results, given the current geopolitical and economic climate.
"The housing market is still strong, but consumer confidence is shaken," said Rejean Poitras, president and chief executive officer.
Amisco, which sells more than 65% of its production to the United States, reported earnings of C$416,000 on sales of C$10.7 million in the quarter.
Selling and administrative expenses declined slightly as a percentage of sales, which pushed the net profit margin to 3.9% from 3.8% in the same quarter a year earlier.
"To optimize our sales, we strive to constantly improve our products' quality, design and prices, and reduce our delivery times," Poitras said. "Our beds, and since recently our stool lines, are shipped within 10 working days — a great advantage that enhances Amisco's positioning in the industry."
| Amisco(a) | |||
|---|---|---|---|
| Earnings per share are fully diluted. | |||
| Quarter ended 3/1 | 2003 | 2002 | Change |
| (a) In Canadian dollars. (b) Based on average shares outstanding of 3.8 million in the 2003 quarter and 4.1 million in the 2002 quarter. |
|||
| Sales | C$10,743,000 | C$10,320,000 | 4.1% |
| Operating income | 645,000 | 554,000 | 16.4% |
| Net income | 416,000 | 389,000 | 6.9% |
| Earnings per share (b) | 0.11 | 0.09 | 22.2% |
-
La-Z-Boy profits dip in third qtr.
Feb 24, 2011 -
Amisco sales fall 13.3% in 3Q; U.S. market soft
Oct 5, 2008 -
Amisco sales decline 22.3% in quarter
Jul 13, 2008 -
Amisco sales fall 22.3% in quarter
Jul 7, 2008 -
Amisco 4Q sales fall 12.3%
Feb 17, 2008
Specialty retailer LoveSac introduces new store design
Belfort Furniture, Lawrance Furniture are NHFA Retailers of Year
Kincaid Furniture honors Jimmy and Rosalynn Carter for Habitat work
Furniture, mattress sales boost Conn's sales 37.6% in recent quarter
Havertys' new ad campaign plays up customers' finer qualities
Featured Company
-
Wright Labels
Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more
VIEW ALL GALLERIES
