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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

Canadian office furniture company Inscape goes into red in fourth quarter

Friday 24 June 2011

Office furniture company Inscape Corp.went into the red in the fourth quarter, on reduced gross margins, higher selling expenses, and a larger loss on derivatives.

The company reported a fourth quarter loss of $206,000, or one cent per share, compared to a profit of $241,000, or two cents per share in the same quarter a year before.

Sales were up to $19.8 million, versus $17.7 million.

The company said reduced gross margins, coupled with higher fixed selling expenses contributed to the net loss.

But Inscape also recorded a larger loss on derivatives than it did in the fourth quarter last year, booking $408,000 in 2011, versus $200,000 in the fourth quarter of 2010.

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