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Industry: Email Alert RSS FeedRedline posts loss of $8.8 million in '04.(Digest)(Redline Performance Products, Inc.)(Brief Article)
Powersports Business, July, 2004
Redline Performance Products, Inc. reported revenues of $10,140 for its fiscal 2004 fourth quarter and year ended March 31, 2004.
Net loss for the fourth quarter of fiscal 2004 was $3.4 million, or $0.69 per diluted share, versus a net loss of $1.5 million, or $1.41 per diluted share, for the fourth quarter of fiscal 2003. The net loss for fiscal 2004 was $8.8 million, or $2.04 per diluted share, versus a net loss of $3.7 million, or $2.96 per diluted share, for fiscal 2003.
Company officials say losses resulted from production delays and higher-than-expected parts costs in the early stages of production. Increased net losses for the fiscal 2004 three-month and twelve-month periods are due, it said, to higher selling, general and administrative...
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