The Company anticipates full year fiscal 2007 sales to be in the range of $177 to $182 million compared to $227.3 million for fiscal 2006.
The Company's exit from certain women's product categories in fiscal 2006, as well as its ongoing efforts to improve its operating profitability and the quality of distribution, is expected to result in a reduction in sales of approximately $45 million for fiscal 2007 compared to fiscal 2006.
Fiscal 2007 earnings per share are anticipated to be in the range of $0.67 to $0.72 per diluted share.
The Company also reported that the Board of Directors approved a quarterly dividend of $0.0275 per common share that will be payable October 20, 2006, to shareholders of record at the close of business on September 30, 2006.
Tandy Brands Accessories Inc
marketing@alchempro.com
