Article: Jamestown, N.Y.-Based Furniture Firm Reports Loss, Sees Tough First Quarter.

The Buffalo News, N.Y. Knight Ridder/Tribune Business News

Mar. 6--Bush Industries Wednesday reported a net loss of $1.2 million for the fourth quarter, as the Jamestown maker of ready-to-assemble furniture said it was launching a restructuring to save $8 million a year in expenses.

The fourth-quarter loss, which amounted to 9 cents per diluted share, was an improvement from a loss of $5.9 million, or 43 cents a share, in the fourth quarter of 2001. Excluding inventory write-downs and an extraordinary income tax increase, the year-ago loss was 16 cents a share.

Fourth-quarter sales increased 4 percent from a year ago to $88.5 million, the ...

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