USA: Full Line Distributors Reports Q3 Results
Full Line Distributors, a US distributor and manufacturer of imprintable and decorable sportswear, today announced operating results for the third quarter and first nine months of fiscal 2000.For the three months ended September 30, the company reported net income of $340,000 ($0.08 per diluted share) on net sales of approximately $25.1m. These results compared with net income of $462,000 ($0.11 per diluted share) and net sales of approximately $26m in the quarter ended October 2, 1999. While gross profit decreased slightly to $4,009,000 in the most recent quarter, versus $4,020,000 in last year's third quarter, gross profit margin improved to 16 per cent of sales, from 15.5 per cent in the prior-year quarter.Net income for the nine months ended September 30, 2000 decreased to $1,045,000 ($0.24 per diluted share), compared with $1,107,000 ($0.26 per diluted share) in the first nine months of fiscal 1999. Gross profit increased six per cent to $12,717,000 (17.3 per cent of sales) during the first nine months of fiscal 2000, compared with $12,010,000 (16.3 per cent of sales) in the year-earlier period. Net sales for the first nine months of fiscal 2000 were relatively unchanged at approximately $73.6m, compared with approximately $73.7m in the corresponding period of the previous fiscal year.
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