Oneida Ltd. recently announced financial results for the third quarter and nine months ended October 30, 2004. Consolidated revenues for the third quarter were $102.2 million, compared to $117.5 million in the third quarter a year ago. This quarter's results included only one month of operations from Encore Promotions, Inc., a subsidiary that was sold on August 27, 2004. Third quarter revenues excluding Encore totaled $99.7 million, vs. $109.7 million in the prior year on a comparable basis. Oneida's third quarter operating loss, before impairment of intangible assets, restructuring and asset disposal charges, totaled $1.1 million, compared to a $14.4 million loss in the third quarter of last year. The prior year's loss also included an inventory write-down of $12.5 million. Net loss for the third quarter this year was $23.8 million, or $0.57 loss per share, compared to a net loss of $74.8 million, or $4.50 loss per share the previous year. As a result of the debt-to-equity conversion completed in August 2004 as part of the restructuring of the company's existing indebtedness, average shares outstanding increased to 41.7 million shares during the quarter ended October 2004, up from 16.6 million shares during the quarter ended October 2003.

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