Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Applica Reports 2003 Second-Quarter and First-Half Financial Results
Jul 31, 2003
 Printable format
 Email this Article
 Search

Applica Incorporated announced that second-quarter sales for 2003 were U.S. $136.8 million, a decrease of 18.6 percent from the second quarter of 2002. For the first six months of 2003, net sales declined 17.0 percent to $258.1 million. According to the company, the decreases were largely the result of lower sales to key retailers and planned lower contract manufacturing sales.

The company reported a net loss for the 2003 second quarter of $2.8 million, or $0.12 per diluted share, compared with a loss of $2.1 million, or $0.09 per diluted share, for the 2002 second quarter. The second-quarter 2003 earnings included $1.5 million of equity in the net earnings of a joint venture in which Applica owns a 50-percent interest. For the first half of 2003, Applica reported net income of $16.8 million, or $0.67 per diluted share, as compared to a loss of $84.1 million, or $3.59 per share for the same period last year. The 2003 first-half earnings included $39.0 million of equity in the net earnings of a joint venture. The company said the equity in net earnings resulted primarily from an unrealized gain in the fair value of an investment held by the joint venture.

According to the company, its gross profit margin was 28.7 percent in the second quarter as compared to 31.8 percent in the second quarter of 2002. The company attributed the decrease primarily to higher plastic resin prices and unabsorbed overhead related to lower production levels. The gross margin for the first half of 2003 was 30.0 percent as compared to 30.5 percent in the first half of 2002.

Back to Daily News

 

Daily News

...........................................................

Oct 21, 2014: AHRI Annual Meeting Registration Remains Open

Oct 20, 2014: Electrolux 3Q Operating Income up 29%

Oct 17, 2014: Whirlpool completes purchase of majority interest in Indesit

Oct 17, 2014: Corrected: AHRI Annual Meeting Registration Remains Open

Oct 17, 2014: Walmart will moderate brick-and-mortar growth and increase capital spending on e-commerce capabilities

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows