Salton Reports Q3 Results
May 12, 2006
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Salton, Inc. announced fiscal results for its third quarter ended April 1, 2006, reporting net sales of U.S. $127.7 million for its fiscal 2006 third quarter compared to net sales of $153.2 million for the fiscal 2005 third quarter. Net sales decreased domestically by $23.0 million. This decrease includes $5.7 million of tabletop product sales, as a result of the sale of the tabletop business in September 2005 and approximately $2 million of discontinued personal care product lines. Despite weak consumer demand in the United Kingdom, foreign sales increased by $1.2 million, which was offset by $3.7 million in unfavorable foreign currency fluctuations.

The company's pre-tax loss from continuing operations improved by $13.1 million in the third quarter of fiscal 2006 compared to the same period last year. Salton reported a net loss of $19.1 million, or $1.40 per share in the quarter, compared to a net loss of $22.5 million, or $1.98 million per share for the same period in fiscal 2005.

For the 9 months ended April 1, 2006, Salton reported net sales of $506.5 million, compared to $630.5 million for the first 9 months of fiscal 2005. Net sales decreased domestically by $94.5 million. This decrease includes $11.8 million of tabletop product sales as a result of the sale of the tabletop business in September 2005 and approximately $5.3 million of discontinued personal care lines. Foreign sales declined by $29.6 million and were impacted by weak consumer demand in the housewares sector in the United Kingdom and $8.8 million of unfavorable foreign currency fluctuations.

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