Jennifer Convertibles Inc announced its financial results for the fourth quarter and fiscal year ended August 25, 2007.
For the fourth quarter, revenue from continuing operations increased by 3.9% to $37.5 million from the $36.1million reported for the same period last year. For the fiscal year 2007, revenue from continuing operations decreased 2.2% to $136.6 million from the $139.7 reported in the same period last year.
For the fourth quarter, the Company generated net income of $1,741,000, or $0.22 and $0.20 per basic and diluted share, respectively, compared to net income of $1,573,000, or $0.21 and $0.18 per basic and diluted share for the same period last year. For the fiscal year 2007, ne t income was $3,971,000 or $0.51 and $0.45 per basic and diluted share, respectively, compared to net income of $5,220,000 or $0.71 and $0.62 per basic and diluted share for the same period last year.
For the fourth quarter, operating margins from continuing operations increase to 32.9% as a percentage of revenue from continuing operations compared to 32.0% for the same period last year. For the twelve month period, operating margins from continuing operations decreased to 31.2% compared to 31.6% for the same period last year.
For the fourth quarter, selling, general and administrative expenses from continuing operations increased to 27.9% as a percentage of revenue from continuing operations compared to 26.8% for the same period last year. For the twelve month period, selling, general and administrative expenses from continuing operations increased to 28.0% compared to 27.4% for the same period last year.
marketing@alchempro.com
