USA: The First Years Reports $36.4m Q3 Sales
The First Years Inc, a marketer of products for infants and toddlers, reported third quarter net sales significantly increased to $36.4m compared with $32.2m reported for the same period of 2000.
Net income in the period ended 30 September 2001 amounted to $2.1m or $0.22 per fully diluted share compared with $1.8m or $0.19 per fully diluted share in 2000.
Net sales for the first nine months of 2001 totaled $103.7m compared with $103.3m for the same period last year. Net income for the first nine months of 2001 totaled $5.9m or $0.63 per fully diluted share compared with $7.1m or $0.74 per fully diluted share in 2000.
Commenting on the results, Ronald J Sidman, president and chief executive officer, said the improved results were "partly due to pipeline shipments of a new licensed product programme to a major account, as well as sales of other new licensed products."
"After trailing last year's sales performance slightly at the six-month mark, we are now edging ahead of 2000 in sales," he continued. "We believe that our strategic focus on product development is positioning the company for profitable growth in 2002 and beyond."
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