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Article: Royal Appliance Announces Fourth Consecutive Quarter of Profitability on Increased Sales
- Article from:
- PR Newswire
- Article date:
- October 18, 1996
CopyrightCOPYRIGHT 1996 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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CLEVELAND, Oct. 18 /PRNewswire/ -- Royal Appliance Mfg. Co. (NYSE: RAM), maker of Dirt Devil(R) vacuum cleaners, today reported a 10 percent net sales increase for the quarter ending September 30, 1996. Third quarter net sales were $73,688,000, up from $66,990,000 for the comparable period in 1995, resulted in net income of $3,151,000 -- compared with a net loss of $12,279,000 for third quarter 1995, which included an after tax special charge of $10,950,000 ($.46 loss per share). Net income per share was $.13 for the quarter ended September 30, 1996, compared to a net loss per share of $.51 for the comparable period in 1995, including special charges.
The ...