Chromcraft posts 27.7% profits jump
By Furniture Today Staff -- Furniture Today, February 13, 2005
Delphi, Ind. — Manufacturer and importer Chromcraft Revington finished 2004 on a strong note, with fourth-quarter earnings jumping 27.7% to $2.2 million from $1.7 million in the final quarter of 2003.
Despite the big increase in profits, Chromcraft said sales declined 8.9% in the quarter to $41.6 million from $45.7 million a year ago.
Chairman and CEO Michael Thomas attributed the higher earnings primarily to cost reductions. He said the sales decrease was the result of lower shipments of dining room, bedroom and occasional furniture, partially offset by higher shipments of commercial and upholstered furniture.
Declines primarily were due to foreign import competition, he said.
Annual sales dipped 6.4% in 2004 to $172.4 million from $184.2 million in 2003. 2004 net income was $7.7 million, off 5.2% from 2003's $8.1 million.
Net earnings for 2003 included three previously reported non-recurring items.
-
Chromcraft posts loss in 4Q
Mar 11, 2007 -
Chromcraft Revington 3Q earnings drop 39.8%
Nov 20, 2005 -
Chromcraft Revington 3Q earnings drop 39.8%
Nov 3, 2005 -
Chromcraft Revington posts 4Q loss as sales dip 4.4%
Feb 22, 2007 -
Chromcraft Revington 4Q earnings up, sales down
Feb 10, 2005
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
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
VIEW ALL GALLERIES
