GuildMaster Announces Fiscal Year 2011 Results
Net Income Jumps 68%
Year over Year Sales Improve 10%
SPRINGFIELD, Mo., Nov. 30, 2011 /PRNewswire/ -- (Pink Sheets: GLDU.PK) — GuildMaster, Inc. a recognized leader in the home accents industry, announced today its audited Fiscal Year 2011 results.
The Company posted its largest annual profit in history. Net profit increased 68% to $340,000 compared to fiscal year 2010. Annual sales were up 10% to $12,505,000. The Company continues to out perform other furniture manufacturers who have seen steady sales declines over the past two years along with mounting losses. The profitable fiscal year marks three consecutive profitable years for the Company as the housing market is struggling to rebound.
"The GuildMaster team has steadily improved our annual financial metrics each of the past three years," said Chief Executive Officer Steve Crowder. "Our vertically integrated design, manufacturing and logistics model has allowed us to identify trends and develop product significantly faster than our competition. We have been able to shorten delivery times by over 50% and reduce costs in the supply chain by owning our own factories versus our competition who import goods from overseas suppliers."
About GuildMaster, Inc.
GuildMaster, Inc., founded in 2000, is a recognized leader in the home accents industry. The company has developed a vertically integrated design and manufacturing model that reduces costs traditionally channeled into home furnishings. GuildMaster has served more than 4,000 small and large retail accounts, including national brand names such as, Broyhill Furniture Industries, Pottery Barn, Pier One, Neiman Marcus, HomeGoods, Rooms To Go, and Anthropologie.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements about the future performance of GuildMaster, economic trends, and other forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including and without limitation, continued acceptance of GuildMaster products, increased levels of competition for the company, new products and technological changes, GuildMaster dependence on third-party suppliers, and other risks detailed from time to time in GuildMaster's periodic reports filed with the OTC Disclosure and News Service. GuildMaster provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release.
For Information Contact:
Steve Crowder 417-879-3326
[email protected]
[email protected]
www.guildmaster.com
SOURCE GuildMaster, Inc.
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