Innovative Designs reports record high revenue for Q4
31 Jan '06
2 min read
Innovative Designs Inc has reported record high revenue for the fourth quarter ended October 31, 2005. Also, it reported a 1,386 percent increase between the third and the fourth quarter.
Impressively, the company's 2005 fourth quarter revenue is up from the prior year ended October 31, 2004 inception to date revenue, a 106 percent increase. In addition, the fourth quarter was profitable, with net income of $103,038 for the quarter.
Innovative Designs Inc is experiencing greater retailer proliferation across the country. The attendance of trade shows in January and February of 2006 is significantly increasing the number of Innovative Designs Inc retailers.
The increase will continue to have positive affects on Innovative Designs Inc revenue growth.
Quote from Joseph Riccelli, President and CEO, "We are pleased with the tremendous revenue growth of our products, as well as the profit increase associated with our sales expansion. The more exposure we obtain at industry trade shows will only enhance our revenue potential. In 2006, Innovative Designs Inc is preparing for explosive growth."
Innovative Designs Inc also announces that due to additional responsibilities within his own business, Frank Riccelli has resigned as President of Innovative Designs Inc.
Frank Riccelli has returned 1,250,000 shares of Innovative Designs Inc stock back to the company. Joseph Riccelli has assumed the title of President, and is now both President and CEO of Innovative Designs Inc.
Innovative Designs Inc manufactures hunting apparel, swimwear, wind shirts, jackets, sleeping bags, and the multi-function stadium pack under the "i.d.i.gear" label.
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