ENESCO EXPERIENCES TOUGH YEAR IN 2005.(Enesco Group Inc. suffers losses)

HFN: The Weekly Newspaper for the Home Furnishing Network, April, 2006

ITASCA, Ill.-Enesco Group continued to feel the loss of the Precious Moments license last year. The company experienced a net loss of $54 million during the 2005 fiscal year, ended Dec. 31, down 20 percent over its $45.2 million net loss in 2004. Net revenues for the year were down 9.1 percent to $244.4 million from $269 million in 2004. Excluding the U.S. sales of Precious Moments, net revenues were down 2.3 percent from the prior year to $210.9 million. Gross profit was down 22 percent to $82.8 million, compared with $106.5 million in 2004.

For the fourth quarter ended Dec. 31, 2005, Enesco didn't fare much better. The net loss for the quarter was $14.7 million, compared with a net loss of $40.7 million for the prior-year period, while net revenues decreased...

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