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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 manufacturer Inscape announces Q1 loss of $1.7M; sales up 7% to $19.3M

Thursday 8 September 2011

Office systems provider Inscape Corp. announced today that significantly lower gross margins had led to a net loss of $1.7 million in its fiscal 2012 first quarter. The Ontario-based provider of office systems, storage and architectural wall solutions, said the loss in the three months ended July 31 amounted to 12 cents per share. That reversed a profit of $645,000 or four cents per share in the same 2011 period. Sales revenue was $19.3 million, up seven per cent from $18.1 million in the year-earlier period.
"Our first quarter results highlight the significant business challenge facing Inscape," CEO Madan Bhayana said in a release.
"Despite this improved sales level, we experienced a substantial loss of $1.7 million in the quarter. The loss is directly related to significantly lower gross margins; primarily due to lower realized exchange rates and partially due to lower realized net selling prices and an unfavourable product mix."
Bhayana said the company must continue to grow our sales through the effective launch and sale of our new products.

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