Sherbrooke, QUE – Shermag Inc., a manufacturer of residential furniture, reported gross revenue of $39.9 million for the second quarter compared to $44.8 million for the same period last year. Net revenue was $37.3 million versus $42.2 million in 2005. Six month gross revenue was $80.2 million, a $9.4 million decrease from the same period last year.
Jeff Casselman, president and CEO said, “The consistent focus on our business transformation plan is beginning to yield results as we have begun to see some progress in our efficiencies…These gains, however, continued to be offset in part by additional changes in the US/Canadian dollar exchange.”
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