Oneida Reports on Financial Results
March 26, 2004
Oneida Ltd. has announced its financial results for the fourth quarter and fiscal year ended January 31, 2004. Sales for the fourth quarter were $121.7 million, compared to sales of $133.1 million in the fourth quarter of the previous fiscal year that ended January 2003. Oneida reported a fourth quarter net loss of $17.4 million, equal to a loss of $1.04 per share, which included a loss of $0.55 per share stemming from one-time expenses totaling $9.1 million. For the fiscal year ended January 2004, Oneida's sales totaled $453 million, compared to sales of $491.8 million for the same period a year ago. The company reported a fiscal year-end net loss of $99.2 million, equal to a loss of $5.98 per share, which included a loss of $4.97 per share relating to a deferred tax asset valuation allowance, professional services expenses, and charges for plant closings and for the sale of certain assets of the Buffalo China dinnerware factory.
A replay of a recent conference call with analysts and investors is available at http://www.oneida.com.