Ceramic Industry News

Oneida Reports on Financial Results

March 26, 2004
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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.

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