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Applica Anticipates Q1 Loss Apr 21, 2005 |
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Small appliance maker Applica Incorporated announced that it anticipates it will record a net loss in the first quarter of between U.S. $22 million and $23 million.
The company says the larger-than-estimated loss is primarily the result of a write-down of inventory related to lower-than-anticipated consumer demand, increased product warranty returns and related expenses, and additional losses in the Mexico manufacturing operations.
Applica will hold a conference call on April 28, 2005 at 11 a.m., Eastern Daylight Time, to discuss its first-quarter results and trends in operations.