AddThis Social Bookmark Button

News

My Vintage Baby Announces Second Quarter 2008 Financial Results

MCKINNEY, Texas-(Business Wire)-September 4, 2008 - My Vintage Baby, Inc. (Pink Sheets: MVBY), a public children's apparel company, announced its financial results for the six months ended June 30, 2008.

Second Quarter Highlights: Gross sales increased 43% from $535,829 to $766,247 from the six months ended June 30, 2007 vs. June 30, 2008, and related margins increased 16% from $382,033 to $444,850 for the same periods. This represents a gross margin percent increase from clothing and accessories of 32% to 45% year over year. Operating and overhead expenses increased slightly from $515,182 to $542,948. Net loss attributable to common stockholders decreased to $278,439 compared to a loss of $388,172 in the prior year period.

“We are very pleased with our second quarter results, which mark another quarter of strong gross profit growth and demonstrate a measurable improvement in profitability,†commented CFO Jeff Welsh. The Company expects to continue to narrow their loss by also reducing operating and overhead expenses.

In addition to a stronger income statement, the Company has reduced debt resulting in a stronger balance sheet. Current Liabilities decreased 25% from $662,174 to $494,753 for the six months ended June 30, 2007 vs. June 30, 2008. Long term loans, exclusive of officer loans, decreased 25% from $253,505 to $190,796 year over year.

ABOUT MY VINTAGE BABY:

My Vintage Baby is recognized as “a piece of yesterday for the hip child of today.†Its garments are designed with both new and vintage reproduction materials, each with its own nostalgic yet stylish look. The vision is to make each garment as unique as the children who wear them.

For more information regarding My Vintage Baby please visit: www.myvintagebaby.com.

Disclaimer:

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.

Join Our Email List
Receive Updates On Features, Specials & Offers  
For Email Marketing you can trust

Search Our News Using Google Search

Can't find what you want? Try using Google:

Google