Business
Phoenix Footwear Reports Third Quarter 2013 Results
Phoenix Footwear Reports Third Quarter 2013 Results.
About this update from Phoenix Footwear Group, Inc.
[{"type":"text","content":"Phoenix Footwear \nReports third Quarter 2013 results\n \n \nCARLSBAD, Calif., November 07, 2013 -- Phoenix Footwear Group, Inc. (OTCMarkets.com: PXFG) today reported results for the Third quarter ended September 28, 2013. \n \nLAUNCHES TROTTERS SIGNATURE PRODUCT LINE\n \nEXPANDS TROTTERS RETAIL DISTRIBUTION TO INCLUDE NORDSTROMS \n \nThird Quarter and First Nine Months of 2013\n \n? Consolidated earnings from continuing operations for the third quarter improved to $362,000 or $0.04 per share compared to earnings of $240,000 or $0.03 per share during the third quarter of fiscal 2012.\n? Net sales from continuing operations for the third quarter increased $828,000 or 17.5% to $5.6 million compared to $4.7 million for the third quarter of fiscal 2012.\n? Consolidated earnings from continuing operations for the first nine months of fiscal 2013 improved to $272,000 or $0.03 per share compared to earnings of $31,000 or $0.01 per share for the first nine months of fiscal 2012. \n? Net sales from continuing operations for the first nine months increased $1.2 million or 8.9% to $14.8 million compared to $13.6 million for the first nine months of 2012.\n? Earnings before interest, taxes, depreciation and amortization (?EBITDA?) for the first nine months improved to $1.03 million compared to $913,400 for the first nine months of 2012. Excluding the reversal of $160,000 tax accrual during the third quarter of 2012, EBITDA for the first nine months of fiscal 2013 improved by 30.8% \n \nTrotters Signature\n \nDuring the third quarter, Phoenix launched a new collection of footwear under the Trotters Signature? label. Featuring unique leathers, ageless fashion and quality crafted footwear; this collection is now available in over 100 retail locations across the country including fine independent and department retail stores. Like Trotters, the Signature line is offered in a broad range of size and widths. Trotters Signature retails for $130 and was a significant contributor to the growth of Trotters in the Company?s most recent quarter. \n \nExpanded Retail Distribution\n \nDuring the third quarter, the Company continued to expand its network of Trotters? and SoftWalk? retail partners, including the addition of more than 120 new accounts carrying ...