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Article: Jamestown, N.Y.-Based Furniture Firm Reports Loss, Sees Tough First Quarter.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 6, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. 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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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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