Nacco Industries, Inc. announced a consolidated net loss for 3Q 2008 of US$17.4 million, or $2.10 per share, on revenues of $917.8 million. The results compared with consolidated net income for 3Q 2007 of $21.1 million, or $2.55 per share, on revenues of $875.2 million.
Hamilton Beach reported net income of $1.2 million for 3Q 2008 on revenues of $138.2 million, compared with net income of $6.3 million for 3Q 2007 on revenues of $140.4 million.
For the nine months ended Sept. 30, 2008, Hamilton Beach reported a net loss of $2.1 million on revenues of $342.2 million compared with net income of $5.8 million on revenues of $340.5 million for the first nine months of 2007.
The company said that "retail expectations are low this year for the normally high fourth quarter holiday-selling season. Current economic factors still affecting U.S. consumers, such as high food prices, depressed home values and financial concerns are among factors creating this challenging retail environment. As a result, Hamilton Beach expects the fourth quarter of 2008 to be a very difficult quarter with results below those in 2007."
Hamilton Beach is introducing a new consumer advertising campaign titled "Good Thinking" during 4Q, which includes four products: the BrewStation Coffeemaker; the Stay or Go Slow Cooker; the Dual Wave Blender; and the OpenStation Can Opener.
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