Scotts Liquid Gold (SLGD) shines on Q1 numbers
Posted on: May 11th, 2011Written by:
Scott’s Liquid Gold-Inc. (OTCBB: SLGD) popped 66.7% higher Wednesday to 51 cents, after the Denver-based household item firm announced its operating results for the first quarter of 2011. Volume was a scant 100 shares, compared to a daily average of 2,781.
For the three months ended March 31, 2011, net sales were $3,868,400 compared with net sales of $3,599,400 in the first quarter of the previous year. The Company reported net income of $125,800 or $0.01 per share, in the most recent quarter, versus net income of $39,200 or $0.00 per share, in the three months ended March 31, 2010.
Scott’s CEO Mark E. Goldstein commented, “During the first quarter of 2011, we experienced an increase net sales led by increases in sales of our Neoteric line of skin care products and in sales of our distributed line of products (Montagne Jeunesse and Batiste).”
Goldstein continued, “Our net income for the first quarter of 2011 was $125,800 versus net income of $39,200 in the first quarter of 2010. The income for 2011 reflects the impact of the overall increase in net sales coupled with a modest improvement in gross margin.”
Scott’s Liquid Gold-Inc. develops, manufactures and markets high quality household and consumer products, including Scott’s Liquid Gold wood cleaners/preservatives, Clean Screen, and Touch of Scent air fresheners, Alpha Hydrox skin care products, and Neoteric Diabetic Skin Care products.
