For the nine month periods for fiscal 2006 and 2005, income (loss) from discontinued operations amounted to $112,000 and ($954,000), respectively.
During the quarter, the company did not open any stores and closed one store as described above.
Commenting on the results Harley Greenfield, CEO of Jennifer said, "We are extremely pleased to again report significant increases in revenues and operating results for our third fiscal quarter. This marks our fifth consecutive profitable quarter."
Greenfield added, "Strong demand for our product offerings has continued and we anticipate reporting increasing revenues, while maintaining operating margins, resulting in continued profitability. We believe the results, which have been achieved during the previous five quarters, confirm that our plan is on course to restore profitability and growth. We expect this to continue into the future."
Jennifer Convertibles is the owner and licensor of the largest group of sofabed specialty retail stores in the US, with 175 Jennifer Convertibles stores and 16 Jennifer Leather stores. It owns 167 stores and licensed 24 (including 23 owned and operating stores by a private company on a royalty free basis.)
Jennifer Convertibles Inc
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