NEW BERLIN, Wis.--(EON: Enhanced Online News)--FIRSTIME DESIGN LIMITED (FTDL) today announced net sales for the nine months ended September 30, 2013 of $5,938,000 an increase of 17.9% compared to the same period last year. The Company reported consolidated net income of $533,000 or $0.35 per common share, an increase of 58.5% compared to the same nine-month period last year. Third quarter net income was $245,000 or $0.16 per common share, an increase of 137.9%, as compared to a net income of $103,000 or $0.07 per common share for the same quarter last year. FTDL ended the quarter with $815,000 of cash and cash equivalents on the balance sheet.
“Though we cannot guarantee financial performance as strong as this past quarter’s, we will continue to do our best for customers, employees and shareholders.”
Commenting on the results, Christopher D. Bering, FirsTime’s President and COO, said, “This quarter was the culmination of a significant amount of hard work. We have worked tirelessly over the last couple years to right size organizational structure, reinvigorate the current customer base, create new customer relationships, and continue to constantly improve our customer centric culture.” Bering closed by saying, “Though we cannot guarantee financial performance as strong as this past quarter’s, we will continue to do our best for customers, employees and shareholders.”
About FirsTime Design Limited
FirsTime Design Limited, through its subsidiary, License Products, Inc., does business as FirsTime Manufactory, an industry leading designer, marketer and distributor of timepieces and home decor products sold through national and regional retailers.