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Article: CURTIS MATHES REPORTS FISCAL YEAR END RESULTS
- Article from:
- PR Newswire
- Article date:
- October 19, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS, Oct. 19 /PRNewswire/ -- Curtis Mathes Holding Corporation (Nasdaq: CRTM), announced today its financials for the fiscal year ended June 30, 1995. Curtis Mathes reported revenues of $21,267,244 versus $14,730,847 in the previous year. Net loss for the period was $4,236,535 or $0.44 per share versus a loss of $309,444 or $0.05 per share in the prior period.
Near the end of fiscal 1995, the company elected to discontinue its distributor network because margins were much lower than appropriate for the industry and volume had not increased as expected with the implementation of the network the previous year. The impact of converting back to its direct dealer ...