May 26, 1995 in Nation/World

Egghead Software Achieves Turnaround

From Staff And Wire Reports

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.

Get stories like this in a free daily email

Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus