Orange 21 Reports $1.1 Million Loss

by The Editors on November 16, 2009

Orange21Logo-1Orange 21, the parent company of Spy Optic filed their Form 10-Q today for the quarter ended September 20, 2009 and reported drops across the board.

  • Consolidated gross profit decreased 52% to $2.9 million compared to 2008
  • Consolidated net sales decreased 27% to $8.8 million
  • A net loss of $1.1 million was incurred for the quarter
  • Sales have decreased across all lines including snow and motocross goggles and sunglasses and amongst all customer classes.
  • Sales and marketing expense decreased 41% to $1.8 million
  • US employees are currently under a temporary 10% reduction in pay

Looks like management is pulling in the belt right along with the sales drop. But then what?

Guru Focus]

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