Orange 21 net sales for Q1 2006 improves 11% to $9.4mn
05 Jun '06
2 min read
Orange 21 Inc, a leading developer of brands that produce premium products for the action sport and youth lifestyle markets, announced financial results for the three months ended March 31, 2006.
The Company's net sales for the first quarter of 2006 increased 11 percent to $9.4 million compared to $8.5 million in the first quarter of 2005.
The Company reported a net loss for the first quarter of 2006 of approximately $1.7 million, or $0.21 loss per diluted share on approximately 8.1 million weighted average shares outstanding, compared to a net loss of approximately $495,000, or $0.06 loss per diluted share on 8.0 million weighted average shares outstanding in the same period a year ago.
Cash, cash equivalents, and short term investments at March 31, 2006, totaled approximately $5.9 million.
2006 Outlook
The Company continues to forecast 2006 annual net sales in the range of $46 - $48 million and a net loss of $0.15 - $0.20 per fully diluted share for the year.
Investor Conference Call
As previously announced, Orange 21's quarterly earnings conference call is scheduled to begin today, Monday, May 15, 2006 at 4:30 p.m. Eastern Time.
The call will be open to all interested investors through a live audio Web broadcast via the Internet at www.orangetwentyone.com.
Alternatively, investors may listen in by telephone to the conference call by dialing 877-704-5380 (international callers can dial 913-312-1294). A replay will be available beginning at 7:30 p.m. ET by calling 888-203-1112, passcode: 5438949 (international callers can dial 719-457-0820 and use the same passcode).
Orange 21 develops brands that produce premium products for the action sport and youth lifestyle markets. Orange 21's primary brand, Spy Optic, manufactures sunglasses and goggles targeted towards the action sports and youth lifestyle markets.
marketing@alchempro.com
