WOONSOCKET – Summer Infant Inc. reported net income of $541,000 for the second quarter, a 111 percent year-over-year increase.
“Even in a tough industry environment, Summer Infant has proven that product innovation, streamlined operations, and dedication to our customers can result in positive, improving financial results,” said Mark Messner, president and CEO of the manufacturer of infant and juvenile products for North America and the rest of the world.
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Quarterly net sales for the company rose 4 percent compared with the same 2016 period to $52.6 million. Earnings per diluted share for the quarter totaled 3 cents, compared with 1 cent a year earlier.
“As expected, the steps we’ve taken this past year to streamline and focus the company are beginning to bear fruit,” said Messner. “Second quarter revenue rose 4 percent to $52.6 million – the highest level in two years – and we posted EPS of $0.03, reflecting sound operating discipline and increased demand for many seasonal products.”
Chris Bergenheim is the PBN web editor.
