Higher revenues at Jennifer Convertibles
Sofa bed and leather furniture retailer Jennifer Convertibles, Inc. has reported higher revenues for the fourth quarter and fiscal year ended August 26, 2006.
For the fourth quarter, revenue from continuing operations increased by 2.2% to $36.2 million from the $35.4 million reported for the same period last year. For the fiscal year 2006, revenue from continuing operations increased 15.8% to $140.4 million from $121.2 million.
Net income for the fourth quarter reached $1.57 million compared with $2.58 million, which included a $600,000 collection of receivables from the private company. For the full year, net income reached $5,220,000 compared with a net loss of $3.87 million for 2005.
Jennifer Convertibles is the owner and licensor of sofa bed specialty retail stores in the
