FirsTime Design Limited Reports First Quarter Results and Declares Cash Dividend
NEW BERLIN, Wis.--(BUSINESS WIRE)-- FIRSTIME DESIGN LIMITED (FTDL) today reported sales and earnings for its first quarter ended March 31, 2013. The Company also announced that its Board of Directors declared a $.05 per share special cash dividend on its common stock, payable May 31, 2013 to shareholders of record at the close of business on May 15, 2013.
Net sales for the first quarter of 2013 were $1.8 million, an increase of 19.8% compared to the same period last year. The Company reported consolidated net income of $132,000 or $0.09 per common share, as compared to a net income of $115,000 or $0.08 per common share last year.
“The special dividend is a sign of the confidence we have in our sales strategy and operational plan to accelerate organic growth,” said Christopher D. Bering, president and Chief Operating Officer. “It is a direct result of the tremendous opportunity in the markets and of FirsTime’s continued commitment to position itself as an industry leader.”
Mr. Bering went on to say, "We continue to be pleased with the ongoing performance of the company. The positive sales trends, combined with enhanced and stable profitability and operational cost containment position the company to continue capturing additional market share. We owe our results to the tremendous team that has been assembled, which remains devoted to improving the company’s performance in the many coming years."
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.
FirsTime Design Limited
Chris Bering, 262-364-5200 x108
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