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 Q1 Results
Nov 10, 2004
 Printable format
 Email this Article
 Search

Small appliance maker Salton, Inc. announced its fiscal 2005 results for the first quarter ended Oct. 2, 2004. The company reported net sales of U.S. $274.1 million for the first quarter, versus $238.5 million for the first quarter of fiscal year 2004.

Salton reported a loss of $3.2 million, or $0.28 per share, versus a profit of $0.7 million, or $0.50 per diluted share for the same period of 2004. Net sales increased $35.6 million due to strength in international operations and $10.4 million in favorable currency effects. Domestic sales were relatively unchanged versus the year-earlier period.

According to the company, gross profit declined from 26.9 percent in the fiscal 2004 period to 23.1 percent in the first quarter of fiscal 2005. The decline was a result of higher cost of goods as a result of increased raw material and petroleum based costs and sales of excess and discontinued product lines in connection with the company's previously announced inventory reduction plan.

"Our domestic restructuring efforts are yielding results," said Leonhard Dreimann, Salton's CEO. "Were it not for rising product related costs, our earnings per share would have been positive in the quarter. We remain on plan to realize a minimum of $40 million in cost reductions during fiscal 2005."

Salton announced that it will be implementing price increases to cover rising material and petroleum costs. "The raw material increases and other manufacturing pressures in China are putting a strain on manufacturers and may ultimately reduce the number of manufacturers for this industry," Mr. Dreimann said. "The short and long-term effect is not known, but we remain concerned about potential product shortages."

Back to Daily News

 

Daily News

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

Dec 22, 2014: DOE's Building Technologies Office releases Roadmap for Emerging HVAC Technologies

Dec 19, 2014: Whirlpool Corp. provides guidance for 2015

Dec 19, 2014: Panasonic to showcase built-in appliances at LivingKitchen 2015

Dec 19, 2014: New residential construction in November 2014

Dec 19, 2014: 2014 U.S. steel production up 0.7% from 2013

More Daily News>>

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

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

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
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