For the fourth quarter ended January 28, 2006, net sales were comparable at $12.0 million to last year's fourth quarter.
Gross profit dollars increased by $ 1.0 million to $ 4.3 million and gross margin improved to 36 percent from 27.8 percent for the previous year.
Operating expenses increased by $0.7 million over last year which then resulted in an operating loss of $0.2 million for fiscal 2006 an improvement of $ 0.3 million from an operating loss of $0.5 million for last year's fourth fiscal quarter.
Included in the fiscal 2006 fourth quarter was the write off of approximately $ 0.6 million in transaction costs associated with the termination of the merger with Sheridan Square Entertainment.
The net loss for the quarter was $0.3 million a decrease of $.02 million from the net loss for the same quarter last year of $0.5 million. Included in this year's fiscal fourth quarter net income was income from discontinued operations of $447,000 associated with Hometown Threads and the wind down of HAPL Leasing.
Net loss for fiscal 2005 included income from discontinued operations of $376,000. For more detailed information please refer to the Company's filings with the Securities and Exchange Commission including, without limitation, its Report on Form 10K for the fiscal year ended January 29, 2005”
Hirsch International is the leading single source provider of Tajima embroidery systems marketing under the name Tajima Sales & Support by Hirsch.
Hirsch International Corp
marketing@alchempro.com
