WEST LAFAYETTE, IN – Residential furniture manufacturer Chromcraft Revington Inc. reported its financial results for the first quarter ended March 29.
According to BusinessWire, consolidated sales for the quarter were $27.5 million, compared to $33.8 million during the prior year period, a decrease of 18.9%. Shipments of residential furniture for the quarter were also lower, primarily due to the weak retail environment, competitive pressures from imported furniture and the impact of restructuring activities at the company.
Commercial furniture sales continued to grow in the first quarter versus the prior year period. Consolidated sales for the first quarter were 3.1% less than sales for the fourth quarter last year. Operating loss for the first three months of 2008 was $2.2 million compared to $2.0 million for the same period in 2007.
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