Craig Consumer Electronics announces preliminary third quarter results.CERRITOS Cer·ri·tos A city of southern California, a suburb of Los Angeles. Population: 52,600. , Calif.--(BUSINESS WIRE)--Nov. 5, 1996--Craig Consumer Electronics Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market Symbol: CREG) Tuesday Tuesday: see week. announced its preliminary financial results for the third quarter ended Sept. 30, 1996. Sales for the quarter increased 6.8 percent to approximately $25.3 million, from a level of $23.7 million during the same quarter in fiscal year 1995. The company believes that sales for the consumer electronics industry were generally flat or decreased for the market segment within which it competes. However, despite signs of relatively weak performance in the industry, positive trends during the third quarter were noted. Gross margin in dollars increased by approximately 10 percent to $4.2 million, up from $3.8 million during the same quarterly period in 1995. Although gross margin levels increased during the quarter, net income slightly decreased due to the need to increase the company's promotional activities. Net income for the third quarter of fiscal year 1996 was approximately $579,000 compared with $586,000 for the third quarter of fiscal year 1995. CONTACT: Craig Craig , Edward Gordon 1872-1966. British theatrical producer, director, and designer whose innovative productions and simplified stage designs influenced modern theater. Consumer Electronics Inc. Donna Richardson Donna Richardson Joyner is a well known fitness and aerobics instructor, author and television sports commentator. Widely known for her series of fitness videos, she was appointed in 2006 by President George W. Bush to serve on the President's Council on Physical Fitness and Sports. , 310/926-9944 ext.103 |
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