Algo Group posts lower sales

03/04/2006
Canadian manufacturer of men's and children's sportswear and ladies' fashion apparel Algo Group Inc. has posted lower sales for the fourth quarter and full year ended December 31, 2005.

For the fourth quarter, sales fell to $9.2 million from the $12.5 million reported for the same period in 2004. The company recorded a net loss of $4.6 million, compared with $2.1 million for the same quarter last year.

Sales for the twelve-month period were $50.5 million, compared with $61.5 million for the same period in 2004, a decrease of $11 million. The net loss for the period was $6.9 million, compared with a net loss of $4.8 million for the previous year.