Multiple Zones Reports '97 Sales Up, Income Down
Multiple Zones International Inc., Renton, WA, a direct marketer of microcomputer products, reported that net sales for the fourth quarter of 1997 were $143.5 million, up 6.1 percent from $135.3 million in same period last year. Net income for the quarter was $466,000, down from $3.1 million last year.For the full year ended Dec. 31, net sales reached a record $490 million, a 7.2 percent increase from $457 million in 1996. The company reported a net loss of $5.4 million for the year, compared with a net income of $10.9 million for 1996.
"While operations were profitable for the year, we did incur charges to earnings in our second and third quarters which were attributable to adjustments to the carrying value of certain items in inventory and other assets and for the closing of two foreign subsidiaries," said CEO John DeFeo.
