Phoenix Footwear Q2 Net Loss From Continuing Operations Up
Posted on: Wednesday, 13 August 2008, 09:00 CDT
Phoenix Footwear Group has reported that net loss from continuing operations was $2.2 million, or $0.27 per share, for the second quarter of 2008, compared to a net loss of $1 million, or $0.13 per share, from continuing operations a year ago.
Net sales from continuing operations decreased 10% to $17.9 million, compared to $19.8 million for the second quarter of fiscal 2007. Gross margin expanded 40 basis points to 34.1%, compared to 33.7% for the second quarter of 2007.
Net sales from continuing operations for the first six months of 2008 decreased 3% to $39.9 million, compared to $41.1 million for the first six months of fiscal 2007. Gross margin was 35.1%, compared to 36.5% for the first six months of 2007. Operating loss narrowed to $1.3 million, compared to $2.2 million a year ago.
Net loss from continuing operations for the first six months of 2008 was $2.5 million, or $0.31 per share, compared to a net loss of $2 million, or $0.25 per share, from continuing operations for the first six months of fiscal 2007.
Source: Datamonitor
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