Real Good Trading Corp. Announces Net Sales for First Quarter 2001
Real Goods Trading Corp. (Santa Rosa, CA) announced that net sales for its fiscal 2001 1st quarter ended June 24, 2000 decreased to $3,202,000 from $4,117,000 in 1999. The company's net loss increased to $520,000 from $140,000 in 1999. Applicable per share losses were $0.11, compared with $0.03 last year.The 22 percent decrease in net sales was attributed to the lull in demand for Real Goods' core solar and self-sufficiency products. Many of these products were Y2K-focused. The company has reduced their inventory of these products since the "Y2K fears" have not materialized. Gross margin, as a percentage of sales, declined to 38.2 percent from 39.9 percent in 1999, reflecting the inventory reduction.