Five Star Products, Inc., New York, NY, distributor of paint sundry and hardware products in the Northeast and Middle-Atlantic states, reported revenue for the three months ended June 30, 2008, were down 12.5% to $31.4 million. Profit was $98,000, compared with profit of $567,000 in the prior-year period.
The distributor reported sales of $62.9 million for the first six months of 2008, a 4.4% decrease. The net loss was $609,000.
John Belknap, Five Star CEO, said: Challenging market conditions in our industry obviously have impacted Five Star’s second quarter. Neither Five Star nor its customers are immune from negative economic factors affecting, in particular, the housing and home improvement industries.”
As previously announced, National Patent …
Five Star Products Sales Down 12.5% in 2Q
Five Star Products, Inc., New York, NY, distributor of paint sundry and hardware products in the Northeast and Middle-Atlantic states, reported revenue for the three months ended June 30, 2008, were down 12.5% to $31.4 million. Profit was $98,000, compared with profit of $567,000 in the prior-year period.
The distributor reported sales of $62.9 million for the first six months of 2008, a 4.4% decrease. The net loss was $609,000.
John Belknap, Five Star CEO, said: Challenging market conditions in our industry obviously have impacted Five Star’s second quarter. Neither Five Star nor its customers are immune from negative economic factors affecting, in particular, the housing and home improvement industries.”
As previously announced, National Patent …
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