Electric housewares maker Salton, Inc. reported net sales of U.S. $216.5 million for its fiscal 2005 fourth quarter ended July 2, 2005 compared to net sales of $249.7 million for the same period of 2004
Salton reported a loss of $28.8 million versus a loss of $50.2 million for the same period in fiscal 2004. Net sales decreased in the U.S. by $20.0 million due to the company's ongoing restructuring activities, which impacted product availability and demand. Foreign sales declined by $13.2 million, including $2.6 million of foreign currency gains.
For the full fiscal year, Salton reported net sales of $1,071.0 million versus $1,076.7 million in fiscal 2004. U.S. sales decreased $66.0 million and were offset by $19.2 million in foreign increases and $41.1 million of foreign currency gains. For the fiscal 2005 full-year, Salton had a net loss of $51.8 million compared to a net loss of $95.2 million in 2004.
"While we believe that we have addressed many of the issues within the company's control, our first fiscal quarter's results, like many of our customers, will be impacted by Hurricanes Katrina and Rita and the high cost of oil," said Leonhard Dreimann, CEO. "Despite these disruptions, we feel that the company is now in a position to move forward. Salton has a long established reputation for innovation and exciting new products…that, coupled with other new product introductions, positions Salton to continue down the road to recovery."
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