Excluding restructuring and related charges, net income for the first six months of fiscal 2007 was $2.2 million, or $0.19 per diluted share. Excluding restructuring and related charges, net loss for the first six months of fiscal 2006 was $960,000, or $0.08 per diluted share.
Mattress Fabrics Segment Mattress fabric (known as mattress ticking) sales for the second quarter were $23.5 million, a 2.1 percent decline compared with $24.0 million for the second quarter of fiscal 2006.
On a unit volume basis, total yards sold decreased by 7.9 percent compared with the second quarter of fiscal 2006. This trend primarily reflects a decline in demand for printed ticking, a less popular category.
Operating income for this segment was $2.5 million, or 10.5 percent of sales, compared with $1.7 million, or 6.9 percent of sales, for the prior-year period.
Upholstery Fabrics Segment Sales for this segment were $35.5 million, a 17.4 percent decline compared with $43.0 million in the second quarter of fiscal 2006. Total yards sold declined by 18.1 percent, while average selling prices were down less than one percent compared with the second quarter of fiscal 2006.
Sales of upholstery fabrics reflect higher sales of non-U.S. produced fabrics, and continued very weak demand industry wide for U.S. produced fabrics, driven by consumer preference for leather and suede furniture and other imported fabrics, including an increasing amount of cut and sewn kits.
marketing@alchempro.com
