From Home Furnishing Business
Natuzzi Posts 3Q Loss of $24.8M
Net sales for Leather upholstery supplier Natuzzi (NYSE: NTZ) in the third quarter ended Sept. 30 were $136.8 million, a 7.5 percent drop from net sales of $147.9 million posted in the third quarter of 2012.
The company posted a net loss of $24.8 million for the quarter, compared to a net loss of $6.9 million in the same quarter last year.
Net sales for the nine month ended Sept. 30 slid 4.2 percent to $430.8 million from net sales for the same period last year of $449.6 million.
Net loss for the nine-month period was $51.1 million; net loss for the same nine months last year was $18.4 million.
The complete earnings release can be found online.