WEST LAFAYETTE, IN — Chromcraft Revington, a manufacturer and importer of furniture, posted net revenue of $4.7 million for the fourth quarter even though total Q4 sales declined 32.7% compared to the same period a year before.
The company said that while it actually experienced an Q4 operating loss, that part of the federal stimulus package granted them a $6.6 million refund on taxes in paid in 2003 and 2004.
For all of 2009, the company reported its sales were down 36.7% to $62.7 million. What’s more the company said its cost-containment measures helped it post $1.9 million loss for the year, considerably better than 2009’s loss of $26.5 million.
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The company said that while it actually experienced an Q4 operating loss, that part of the federal stimulus package granted them a $6.6 million refund on taxes in paid in 2003 and 2004.
For all of 2009, the company reported its sales were down 36.7% to $62.7 million. What’s more the company said its cost-containment measures helped it post $1.9 million loss for the year, considerably better than 2009’s loss of $26.5 million.
Read more.
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