Oneida Reports Financial Results For First Quarter
June 13, 2005
Oneida Ltd. recently announced operating and financial results for the first quarter ended April 30, 2005. Operating income for the first quarter was $5.5 million, or 6.1% of revenues, compared to an operating loss of $1.9 million during the corresponding period last year. The $7.4 million improvement in operating income reflects the favorable impact of the company's comprehensive restructuring program. Revenues for the first quarter were $90.2 million, compared to $111.2 million in the first quarter of the previous fiscal year. The decline in revenues is partially attributed to the August 2004 sale of Encore Promotions, Inc., and the closure of 22 unprofitable Oneida Home Stores during the previous 12 months.
Additional details are available at http://www.oneida.com.