Kid Brands, Inc. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2012; Provides Earnings Guidance for the First Half Year of 2012
May 11, 2012 at 07:42 am EDT
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Kid Brands, Inc. reported consolidated unaudited earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net sales was $55,228,000 against $59,836,000 a year ago. Operating loss was $655,000 against income of $760,000 a year ago. Loss from operations before income tax benefit was $1,274,000 against $351,000 a year ago. Net loss was $803,000 against $325,000 a year ago. Diluted loss per share was $0.04 against $0.02 a year ago. Adjusted net income was $342,000 against $1,684,000 a year ago. Adjusted net income per diluted share was $0.02 against $0.08 a year ago.
As previously disclosed, net sales and profitability are expected to remain soft throughout the first half of 2012. Based on current expectations, net sales and non-GAAP adjusted net income per diluted share for the second quarter of 2012 are expected to improve sequentially compared to net sales and non-GAAP adjusted net income per diluted share reported in first quarter of 2012.
Kid Brands, Inc. (Kid Brands) is engaged in the design, development and distribution of infant and juvenile consumer products. The Company operates in one segment: the infant and juvenile business. The Company, through its wholly owned operating subsidiaries: Kids Line, LLC (Kids Line); LaJobi, Inc. (LaJobi); Sassy, Inc. (Sassy), and CoCaLo, Inc. (CoCaLo), designs and markets products in a number of categories including, infant bedding and related nursery accessories and decor, nursery appliances, diaper bags, and bath/spa products (Kids Line and CoCaLo); nursery furniture and related products (LaJobi); and developmental toys and feeding products, and bath and baby care items with features that address the various stages of an infantâs early years, including the Kokopax line of baby gear products (Sassy).
Kid Brands, Inc. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2012; Provides Earnings Guidance for the First Half Year of 2012