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In Brief: Dep

This article was originally published in The Rose Sheet

Executive Summary

Dep: Posts $28.5 mil. in sales for FY 1998 second quarter (ended Jan. 31), a decline from $29.1 mil. in the year-ago period, the company reported Feb. 24. Quarterly income jumped to $770,000 from $64,000 in FY 1997. For the half, sales slipped 4.9% to $54.3 mil., but the company reported earnings of $1.3 mil., compared to a $2 mil. loss in FY 1997. The company attributed the slip in sales to the conversion process in its China and Australia markets as operations move from direct sales markets to distributorships. The second quarter marks Dep's third consecutive profitable three-month period since the firm emerged from bankruptcy. In March, Dep will have repaid its debt to unsecured creditors in full...
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