Daily News Archive
Brought to you by Home Furnishings Business
Natuzzi Outlines Sales Goal for 2010
February 10,
2010 by in UnCategorized 
By Home Furnishings Business in Financial Reports on February 11, 2010
Italian leather specialist Natuzzi (NYSE: NTZ) has announced its 2010 goal to reach more than $826 million in total sales and to return to a positive earnings before interest and taxes.
The company's board approved the 2010 budget, which reflects the current financial and economic uncertainty. The budget also incorporates improvement in total net sales and order flow during the last few months. The company said the budget will override the previous three-year business plan that was approved at the end of 2008.
The target total net sales of more than $826 million represents a 17 percent increase when compared with 2009.
The company said its goals will be met with strict control over operating costs that were implemented throughout the company last year.
The ambitious 2010 goals are taking into consideration the persistent challenging economic environment, but also the internal group improvement that began recently," said Pasquale Natuzzi, chairman and chief executive officer. "Considering the uncertainty in the market, we have planned to periodically evaluate and fine tune our long term objectives in order to incorporate any potential changes in the environment. Lastly, I want to emphasize the strength of the Editions project, that will be one of the engines of our future growth, that will leverage our experienced, creative team as well as our production and commercial group structures.