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Harvey Electronics, Inc., a retailer and custom installer of high-end consumer electronics products, Friday announced results for the six months and second quarter of fiscal 2003, which ended May 3, 2003.
The company reported a pre-tax income of U.S. $612,000, compared to $801,000 in 2002. Earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to $1,176,000. EBITDA for the same period in 2002 was $1,437,000. According to the company, net income was $372,000. The company also reported a net sales aggregate of $23.1 million for the six months ended May 3, 2003, which is an increase of 1.6 percent over last year.
According to the company, it is important to remember that its fiscal year for 2003 will include 53 weeks and that the first half of fiscal 2003 spanned 27 weeks instead of the 26 weeks included in the first half of fiscal 2002.
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