WEST LAFAYETTE, IN - Furniture maker Chromcraft Revington,Inc. reported improved first quarter 2010 operating results compared to the prior year period.
The net loss for the current quarter was reduced by 69% compared to the first quarter of 2009. The company's net loss for the current quarter was $980,000 as compared to a net loss of $3,152,000 for the prior year period.
Chromcraft Revington sales for the first quarter of 2010 were $13.9 million, a decrease of 17% from the first quarter of 2009, due primarily to the discontinuation of certain high end, low demand products; weak consumer confidence and housing activity reflecting the effects of the current economic downturn which continue to depress demand for furniture; and import competition.
Commenting on these results, Ronald Butler, chairman and CEO, said that the restructuring and cost containment actions implemented starting in 2008 have made a significant positive impact on first quarter results and have helped reduce the effects of the economic downturn.
Read Chromcraft's Revington's press release.
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