SUMR Brands Reports 2021 First Quarter Results
Summer Infant, Inc. (SUMR)
Last summer infant, inc. earnings: 5/7 04:15 pm
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US:NASDAQ Investor Relations:
investor.summerinfant.com/home/default.aspx
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Source: GlobeNewswire
First Quarter EPS $0.12; Deleveraging Continues; Company Working Through Supply Chain Challenges WOONSOCKET, R.I., May 18, 2021 (GLOBE NEWSWIRE) -- SUMR Brands ("SUMR Brands" or the "Company") (NASDAQ: SUMR), a global leader in premium infant and juvenile products, today announced financial results for the fiscal first quarter ended April 3, 2021. Recent Highlights Net sales were $36.2 million in the first quarter versus $40.3 million in the prior-year period, with the decline reflecting ongoing supply chain constraints and logistical issues, which have impeded product getting to marketAggregate SG&A declined to $9.4 million in the quarter compared to $11.6 million in last year’s comparable period (and $10.2 million in the fourth quarter of fiscal 2020), reflecting the shift in the Company’s distribution model and other restructuring initiativesSUMR Brands posted net income for the first quarter of $0.3 million, or $0.12 per share, versus a net loss of $1.2 million, or $(0.57)
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