13997 Wed, 03/12/2008 - 12:15pm
SAN FRANCISCO–Crediting a year and a half of “controlling expenses and improving margins,” Design Within Reach reported a 3.4 percent increase in sales for the fourth quarter ended Dec. 29 and, more importantly, a reversal of the loss during the same quarter the year before.
Profit for the home design retailer reached $2.27 million, compared with a loss of $1.99 million in the year-ago period.
Shareholders also saw a net gain of 16 cents per diluted share, compared with a previous net loss of 14 cents.
In a statement announcing the financial results, Design Within Reach said it had reduced its selling, general and administrative expenses more than 4 percent, down to $21.9 million from $22.9 million.
For 2008, the retailer expects sales to reach around $200 million, generating diluted earnings per share of 3 cents to 5 cents.