WEST LAFAYETTE, IN -- Chromcraft Revington Inc., an importer and manufacturer of residential and commercial furniture, reported its fifth consecutive quarter of improved operating results compared to the prior year period.
The company's net loss for the current quarter of $1,343,000 was reduced by 45% compared to the second quarter of 2009. The net loss for the six months ended July 3, 2010 was $2,323,000 as compared to $5,616,000 for the same period last year.
Ronald Butler, chairman and CEO, said that the restructuring and cost containment actions implemented starting in 2008 have made a significant positive impact on the 2010 first half results and have helped reduce the effects of the economic downturn. He added, "2010 appears to be a continuation of the challenging economic environment for consumers. We continue to believe that when the furniture market improves, the company is well positioned to return to profitability."
Read Chromcraft Revington's press release.
Have something to say? Share your thoughts with us in the comments below.