Dep FY 1996 third quarter operating income totals $989,000; sales flat at $29.6 mil.
This article was originally published in The Rose Sheet
DEP REPORTS NEARLY $1 MIL. IN OPERATING INCOME IN FY 1996 THIRD QUARTER (ended April 30), compared to an operating loss totalling $2.1 mil. in the prior-year period, the company announced May 30. The improvement in operating income was due in part to a reduction in selling, general and administrative expenses and "tightened" inventory levels, according to Dep. The company filed for Chapter 11 protection in April ("The Rose Sheet" April 8, p. 3). Dep also noted it is entering the fourth quarter with over $8 mil. in cash on hand.
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