Next Inc, an emerging leader in the sportswear products industry announced its fiscal second quarter earnings for the three months ended June 1, 2007. The Company will file its Form 10-Q for the quarter on Friday, July 13, 2007.
Sales were $2,157,310 for the three months ended June 1, 2007, compared to $4,823,634 for the three months ended June 2, 2006. The Company had a net loss of $570,645, or $0.03 per share for the second quarter of 2007 compared to prior year net income of $22,895, or $0.00 per share for the same period.
For the six months ended June 1, 2007, net sales were $5,783,233, compared to $9,674,041 for last year's same period. Net loss for the current year is $961,601 or $0.05 per share versus a loss of $228,738, or $0.01 per share last year.
Mr. David Cole, the Company's CFO stated, "Recent media reports tell us that we were not alone in seeing a decrease in sales. Consumers were clearly not feeling quite as healthy from an economic standpoint as they did last year at this time. Because of this, the trends that we noticed and discussed in the first quarter did in fact continue throughout the second quarter.”
Cole continued, “To our credit, and despite the tough macro environment, we continued to focus attention on reducing costs which resulted favorably in keeping our conversion costs low. We also managed our cash flow wisely doing a good job operating within the unusual economic conditions."
"Despite the poor quarterly results, and $300,000 of nonrecurring professional expenses paid in the first half of the year, our receivables, inventory and payables remain in relatively good condition and we are now ready for the seasonally more robust part of the year.”
marketing@alchempro.com
