Kuhlman Company FY sales jumps 44% to $6.4m in 2005
03 Apr '06
3 min read
As a result of the above factors, the company's net loss for the year was $(8.8) million versus $(2.2) million in the prior year. It noted that it currently has a net cash position of $2.0 million.
Luis Padilla, CEO, stated, "We have begun to aggressively implement best-practices throughout the Company and have put stringent controls into place to improve inventory turns and working capital efficiency. We believe that we will be able to reach a point of break-even cash flows by the close of fiscal 2006."
Kuhlman concluded, "Over the course of the coming year, we will fine-tune our operations, our real-estate portfolio and our merchandise offering to maximize our store-level productivity. We continue to believe that we have a national market opportunity and we are determined to be prepared, both operationally and strategically to execute on a growth plan that will flow strong returns and value to our shareholders for many years to come."
Kuhlman is a specialty retailer and wholesale provider of both men's and women's apparel, offered under the Kuhlman brand through company-owned retail stores and under private labels through other large retailers.
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