Q1 profit falls at Ironclad
High-tech glove and apparel company Ironclad Performance Wear Corporation has reported steady sales for its first quarter ended March 31.
Net sales for the quarter were $1.85 million, essentially flat compared with the sales in the prior-year period. Gross profit was $793,997, a 14% decrease compared with $924,552 in the corresponding period last year.
"Despite a challenging economic environment and rising raw material costs, primarily from petroleum, we're pleased that we continued to achieve sales growth for the tenth consecutive quarter," said president and CEO, Ed Jaeger.
The Company's net loss decreased by 2% to $1.15 million in the first quarter compared with $1.2 million during the same period of 2007.
The company recently said that it expects 2008 net sales to be in the range of $15.7 million to $17.6 million, an increase of 20-34% over anticipated 2007 net sales.
