HUFFMAN KOOS REPORTS RESULTS
HUFFMAN KOOS REPORTS RESULTS RIVER EDGE, N.J., Dec. 10 /PRNewswire/ -- Huffman Koos Inc.
(NASDAQ: HUFK), a leading furniture retailer, today reported net sales for the third quarter ended Oct. 31, 1991, of $19.8 million vs. $18.5 million in the third quarter of last year. The company reported a net income of $26,000 or $.01 per share as opposed to a net loss of $512,000 or $.13 per share in the prior year.
For the nine months ended Oct. 31, 1991, net sales totaled $59 million vs. $57.5 million last year. The company reported a year-to- date operating profit of $87,000 vs. an operating loss of $452,000 in the prior year. The net loss of $379,000, equivalent to $.09 per share, compared to a net loss of $971,000, equivalent to $.24 per share, in the prior year. Improved sales and expense controls were primarily responsible for the profitable third quarter and the significant improvement over prior- year results. The company is cautiously optimistic about the fourth quarter and a return to annual profitability for the company. Huffman Koos Inc. is a full-service retailer of high-quality furniture and accessories which presently operates nine stores in New Jersey, one in Rockland County, N.Y., and one in Carle Place, N.Y. -0- 12/10/91 /CONTACT: Joseph Albanese, 201-343-4300, for Huffman Koos/ (HUFK) CO: Huffman Koos Inc. ST: New Jersey IN: REA SU: ERN
CK -- NY067 -- 1213 12/10/91 16:53 EST
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|Date:||Dec 10, 1991|
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