Salton Reports Profit Increase
Feb 5, 2003
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Salton Inc., maker of the George Forman grill and other home products, reported an 18-percent rise in quarterly net income, boosted by strong international demand. The company said it earned U.S. $25 million, or $1.64 per share, in the fiscal second quarter ended Dec. 28, compared with $21.2 million, or $1.42 per share, in the year-ago quarter. Net sales rose 6.5 percent to $339.3 million from $318.5 million a year ago, primarily driven by international growth. Looking ahead, Salton forecast second-half sales in the $360-$400 million range, with earnings per share in a wide range from breakeven to $0.35.

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