Summer Infant shares were higher nearly 5% in recent trade after reporting higher-than-expected fiscal Q4 sales, even as it recorded a loss on the bottom line. SUMR is trading below the mid-point of the 52-week range between $1.60 and $4.77.
The designer of juvenile health, safety and wellness products said its adjusted loss in the quarter ended Jan. 3 narrowed to $0.01 per share compared to a loss of $0.06 a year earlier, but missed the $0.02 profit that had been expected by analysts. Sales rose to $51.0 million from $44.7 million, topping the $48.4 million consensus.
The reported net loss meanwhile narrowed to $611,000 or $0.03 per diluted share from $1.7 million or $0.09 a year ago.
“We believe Summer Infant is in much better shape than a year ago and are committed to building our brands, supporting our core product categories, and investing in consumer-driven innovation to drive expansion,” CEO Carol Bramson said in a statement. “We will also target new channels, international growth and increased ecommerce — all with the aim of ensuring higher returns for our shareholders going forward.”
