Summer Infant Reports 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
WOONSOCKET, R.I., May 02, 2018 (GLOBE NEWSWIRE) -- Summer Infant, Inc. ("Summer Infant" or the "Company") (NASDAQ:SUMR), a global leader in premium infant and juvenile products, today announced financial results for the fiscal first quarter ended March 31, 2018 “During the first quarter Summer Infant continued to take decisive steps to position the Company for higher growth and improved performance going forward,” said Mark Messner, President and CEO. “While revenue was negatively impacted by a major retailer’s liquidation, we undertook additional efforts to streamline operations, strengthen the Company and its brands, and enhance bottom line results. As part of these efforts, we incurred $0.4 million of severance costs even while adding select staff in marketing, brand management, and product development. The headcount reductions are expected to save Summer Infant approximately $1.6 million annually, in addition to the $0.7 million anticipated from the previously-announced realign
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