SPCH Reports Better Results 3Q
The Fairfield, NJ, company, which sells products to both businesses and consumers through retail, direct mail, telemarketing and the Internet, tallied a loss of $556,000, or 14 cents per share, narrower than its year-ago loss of $2.9 million, or $1.08 per share. Sales in the 1998 third quarter reached $4.2 million, edging up from $4 million last year.
SPCH reported earnings before interest, taxes, depreciation and amortization of $1,900 in the third quarter, a modest sum that nonetheless marked a serious turnaround from the company's EBITDA of negative $2.1 million last year. For the first nine months of 1998, EBITDA reached $116,300, compared with its negative $5.1 million in the comparable period a year ago.
SPCH attributed the improved EBITDA and narrower losses to ongoing revitalization efforts, adding that it believes it has addressed the factors that prevented from reaching profitability in the third quarter.