Lionel Financials - March ‘07 by Erol Gurcan
Lionel’s monthly operating report for March 2007, filed with the
bankruptcy court on April 13, 2007, showed net earnings, or profit of
$189,000. While the amount itself is small, it is a profit nonetheless,
which is significant for this time of year. During the calendar year
2006, Lionel did not post a monthly profit during the first seven
months of that year. Additionally, in March 2006, Lionel showed a loss
of $349,000 and in March 2005, a loss of $534,000.
Click on the link below to read on
For the
first three months(first quarter) of 2007, even with the March profit
factored in, Lionel has lost over $2.6 million. In January 2007, it
lost over $1.7 million, and in February, lost almost $1.1 million. In
contrast, during the first three months of 2006, Lionel’s losses were
lower, at $1,556,000. Thus, its losses to date this year are over
$1,000,000 greater than for the same period last year.
Although
the losses so far this year are higher than last year, gross and net
sales continue to increase. For the first three months of 2007, Lionel
had gross sales of $12,261,000 and net sales of $11,458,000. In 2006,
its gross and net sales for the same period were $10,190,000 and
$9,780,000 respectively. The sales numbers for 2007 so far show
significant increases from 2006 of over 2 million dollars. This is
especially intriguing since this time of year does not account for most
of the company’s sales to hobby shops/mass merchandise retailers. In
other words, since Lionel’s business is mostly seasonal, this is the
slow time of year since it comes right after Christmas. In 2006,
Lionel’s gross sales were $62 million.
Gross and net sales for
March 2007 were also about 2 million higher than in March 2006.
Lionel’s gross and sales for March 2007 were $6,958,000 and $6,466,000
respectively. Gross sales in March 2006 were $4,824,000 and net sales
were $4,627,000.
Ed. note: Lionel is a privately held company but their financials are entered into the public record on a monthly basis as part of Lionel’s bankruptcy proceedings.
Erol B. Gurcan, an O Gauge industry legal expert, is a regular contributor to OGaugeWatch.com
Related posts:
- Lionel Execs Get Pay Raise
- A Review Of Lionel’s Bankruptcy Reorganization Plan by Erol Gurcan
- Lionel’s Gross Sales In 2006 Top $62 Million by Erol Gurcan
- Lionel Earns $2.8 Million Profit in November 2006 by Erol Gurcan
- A Status On Lionel’s Bankruptcy; How Long Will It Last? By Erol B. Gurcan
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