Egghead Software Achieves Turnaround
Egghead Software turned around its profit picture in fiscal 1995, earning $934,000 in the fourth quarter and $2.67 million for the year, compared with losses in the comparable year-earlier periods, the computer software retailer said Thursday.
The earnings translated to 5 cents per share on sales of $220 million in the quarter ended April 1. In the fourth quarter of 1994, Egghead lost $407,000 on sales of $209.5 million.
Earnings for the year were 15 cents per share on sales of $862.5 million. For the 1994 fiscal year, the company lost $514,000, or 3 cents per share, on sales of $778.3 million.
Included in the 1995 results was a theft-insurance recovery of $1.65 million.
Egghead announced May 1 that it intends to move its customer-service operations in Issaquah and Kalispell, Mont., to its Spokane center. The costs of that consolidation, estimated at $1.8 million to $2 million, will be reflected in results for the first and second quarters of fiscal 1996.