Sunbeam posts Sept. qtr profit
Sunbeam Corp., a bankrupt home appliance maker, said it posted a profit for its September quarter, reversing a loss from a year ago, as it cut costs. The company said in a filing with the Securities and Exchange Commission that earnings for the 3 months ended Sept. 30 were U.S. $662,000, or $0.01 per share, compared with a loss of $27.7 million, or $0.26 per share, a year ago.
Sunbeam's quarterly revenues fell to $474.3 million compared with $484.5 million a year ago. The costs of goods sold in the quarter fell to $344.8 million from $371.7 million and selling, general and administrative expense fell to $119.7 million from $129.1 million. (Reuters)
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