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Article: Royal Appliance Announces Second Quarter Results

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PR Newswire
Article date:
July 20, 1998
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CLEVELAND, July 20 /PRNewswire/ -- Royal Appliance Mfg. Co. (NYSE: RAM), maker of the Dirt Devil(R) floorcare products, reported today a net loss of $2.2 million or $.10 per share for the quarter ended June 30, 1998, compared to a net income of $.9 million or $.04 per share for the comparable period in 1997. Net sales for the quarter ended June 30, 1998, were $51.3 million compared to $61.1 million for the comparable period in 1997.

Michael J. Merriman, Chief Executive Officer, stated "Consumer purchases of Dirt Devil(R) products have increased this year resulting in market share gains at our major retailers. However, as a result of continued reduction of ... 







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