Lillian Vernon Loses $18.6M in 2003 FY

Share this content:
Lillian Vernon Corp., Rye, NY, reported a net loss of $18.6 million yesterday for its fiscal year ending Feb. 22.


Revenues for the year was $238 million, down from $259.6 million last year.


Fourth quarter revenue was $86.7 million, a drop from $96.1 million last year. The net loss for the quarter was $3.5 million compared to $4.3 million for the 2002 fourth quarter.


Lillian Vernon announced in April its acquisition by Ripplewood Holdings LLC for $60 million. ZelnickMedia will have a minority interest and handle daily management of the 52-year-old cataloger. The transaction is expected to close by June 30, one month earlier than previously announced.


Strauss Zelnick, founder of ZelnickMedia, will become chairman of Lillian Vernon Corp. Lillian Vernon, the founder and board chairman, is expected to own 5 percent of the acquired company and will continue to serve as non-executive chairwoman and spokeswoman.


close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here