SUMR Brands Reports Fourth 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
WOONSOCKET, R.I., Feb. 20, 2019 (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 fourth quarter and twelve months ended December 29, 2018. Recent Highlights Revenue of $40.0 million for the fourth quarter and $173.6 million for the fiscal year, reflecting lost sales due to the liquidation of Toys “R” Us of $7.2 million and $22.9 million, respectively, compared to fiscal 2017 and lower revenue due to the tariff impact in the fourth quarterGross margin of 31.3% in the fourth quarter and 31.8% for the year, versus 29.8% and 31.7%, respectively, in the prior-year equivalent periodsAppointment of Paul Francese as CFONew branding strategy and product launches underway for 2019 “We’re pleased to put fiscal 2018 behind us and, with the Company’s many recent changes, feel optimistic about the outlook for 2019 and beyond,” said Mark Messner, President and CEO.
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