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

Salton Reports Q4 and Year-end Results
Sep 4, 2003
 Printable format
 Email this Article
 Search

Salton, Inc. announced its fiscal 2003 results for the fourth quarter and full year ended Jun. 28, 2003. The company reported net sales of U.S. $189.2 million for the fourth quarter, versus $217.5 million for the same period in 2002. The company also reported a loss of $8.8 million, or $0.79 per share, on 11,185,533 weighted average common shares outstanding, versus a loss of $2.3 million, or $0.21 per share, on 10,990,988 weighted average common shares outstanding for the fourth quarter of 2002. According to the company, the decrease in net sales was due primarily to weakness in the domestic market. Earnings were affected by a reduction in gross margins due to continued SKU rationalization and inventory reduction initiatives that were announced earlier this year. The company said that its decision in the third quarter to reduce prices in an effort to gain market share in advance of product cost reductions also contributed to the decline in earnings. During the fourth quarter, the company reduced its net debt by $30 million.

For the full year ended Jun. 28, 2003, the company reported net sales of $894.9 million, versus $922.5 million for the year-earlier period. Salton generated net income of $8.0 million for the full year, or $0.53 per diluted share, versus $30.1 million, or $2.00 per diluted share, for the year earlier period. Primarily as a result of the company's working capital initiatives during fiscal 2003, it generated net cash from operating activities of $130.6 million for the full year, versus $5.3 million for fiscal 2002. During the year, the company reduced its indebtedness, net of cash, by $108 million.

Back to Daily News

 

Daily News

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

Sep 25, 2014: Cub Cadet's new lawn tractor has Bluetooth and its own app

Sep 24, 2014: GE has the highest ranked appliance brand website; h.h. gregg ranked top appliance retailer website

Sep 24, 2014: Haier becomes first refrigerator maker to offer a lifetime compressor warranty

Sep 24, 2014: New condensing dishwasher from Whirlpool's plant in Wroclaw, Poland

Sep 24, 2014: Index points to growth in consumer spending on tech products in remaining months of 2014

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