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Article: Royal Appliance Announces Growth in Profits and Revenues in the First Quarter of 1997
- Article from:
- PR Newswire
- Article date:
- April 15, 1997
CopyrightCOPYRIGHT 1997 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, April 15 /PRNewswire/ -- Royal Appliance Mfg. Co. (NYSE: RAM), maker of the Dirt Devil(R) vacuum cleaners, reported today net income of $606,000 or $.02 per share for the quarter ended March 31, 1997, compared to a net income of $332,000 or $.Ol per share for the comparable period in 1996. Net sales for the quarter ended March 31, 1997, were $58.6 million, an increase of 12 percent from $52.3 million for the comparable period in 1996. The increase in net sales for 1997 over 1996 was primarily attributable to shipments of Royal's newest upright vacuum, the Dirt Devil(R) Ultra MVP(TM), which was introduced in the second quarter of 1996.
"We achieved ...