Oneida Reports Sales Increase For First Fiscal Quarter
June 2, 2004
Oneida Ltd. recently announced financial results for its first quarter ended May 1, 2004, including an increase in sales. Sales for the quarter totaled $110.6 million, up from $107 million for the same period a year ago. First quarter net income, including extraordinary items, was $54.4 million, equal to $3.25 per share, compared to a loss of $3.4 million, equal to $0.21 per share, for the same period a year ago. Without the extraordinary items but including charges related to inventory writedowns and professional fees, Oneida reported a first quarter loss of $6.3 million. The extraordinary items, totaling $60.7 million, included the net effect of eliminating the company's post-retirement medical liabilities and freezing the defined benefit pension plans.
The company's website is located at http://www.oneida.com.