Phoenix Footwear Group Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014
November 05, 2014 at 09:00 am
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Phoenix Footwear Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the quarter, the company reported net sales of $6,357,000 compared to $5,563,000 a year ago. Operating income was $747,000 compared to $574,000 a year ago. Earnings before income taxes and discontinued operations was $548,000 compared to $362,000 a year ago. Earnings from continuing operations was $548,000 or $0.04 per diluted share compared to $362,000 or $0.03 per diluted share a year ago. Net earnings were $548,000 or $0.04 per diluted share compared to $320,000 or $0.03 per diluted share a year ago. The company generated earnings before interest, taxes, depreciation and amortization of $801,000 from continuing operations for the third quarter of fiscal 2014, compared to EBITDA of $628,000 for the third quarter of fiscal 2013.
For the nine months, the company reported net sales of $16,345,000 compared to $14,800,000 a year ago. Operating income was $910,000 compared to $859,000 a year ago. Earnings before income taxes and discontinued operations was $353,000 compared to $272,000 a year ago. Earnings from continuing operations was $353,000 or $0.02 per diluted share compared to $272,000 or $0.02 per diluted share a year ago. Net earnings were $344,000 or $0.02 per diluted share compared to $211,000 or $0.02 per diluted share a year ago. Earnings before interest, taxes, depreciation and amortization from continuing operations for the first nine months of fiscal 2014 was $1.06 million compared to $1.03 million for the first nine months of fiscal 2013.
Phoenix Footwear Group, Inc. is engaged in the manufacture or importation and sale of footwear. The Company specializes in comfort womenâs footwear with a design focus on fitting features. The Company designs, develops, markets, and sells footwear in a wide range of sizes and widths under the brands Trotters and SoftWalk. The Company also distributes Bueno Footwear and Los Cabos Shoes. The Trotters brand is focused on providing customer with a wide range of sizes and widths in order to ensure the fitting shoes that customer can buy. The Companyâs Bueno brand footwear combines colors with a balance of style and comfort. Bueno brand is sold in over 30 countries, including Canada, Italy, France, Germany, Japan, and Australia. The Company's brands are primarily sold through department stores, specialty and independent retail stores, mail order catalogues and Internet retailers. Penobscot Shoe Company is a wholly-owned subsidiary of the Company.
PHOENIX FOOTWEAR GROUP, INC. 
