O'Sullivan in black for qtr., 9 months. (O'Sullivan Industries Holdings Inc.)
HFN: The Weekly Newspaper for the Home Furnishing Network, April, 1997 by Allegrezza, Ray
LAMAR, Mo. -- Citing improved sales, carefully controlled operating expenses and enhanced gross margins, O'Sullivan Industries Holdings Inc., based here, has reported its fourth consecutive quarter of improved financial performance.
According to Dan O'Sullivan, chairman and chief executive, net income for the fiscal 1997 third quarter ended March 31 was $3.9 million or 23 cents per share, in contrast to a net loss of $2.9 million for the fiscal 1996 third quarter.
O'Sullivan added that excluding an after-tax restructuring charge in the 1996 third quarter of $3.2 million or 19 cents per share, net income would have been $280,000 or 2 cents per share. Net sales for the third quarter of fiscal 1997 reached $77.5 million, a third quarter record, compared with...
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