BrandPartners posts 1Q losses
BrandPartners Group closed its first quarter ending March 31 with a significant drop in revenues.
The firm said it had revenues of $11.1 million for the period, $3.5 million less than the same quarter a year ago.
The Rochester-based diversified retail environment provider also ended the first quarter of 2006 with net losses of $1.3 million, or 4 cents per diluted share, vs. net income of $1.8 million, or 5 cents per share, in the first quarter of 2005.
Operating losses of $984,000 were also reported in the first quarter of 2006 compared to operating income of $2.1 million in the same quarter of the previous year.
Sales were also down slightly for the period, $2.6 million from $2.9 million in quarter-on-quarter results.
The second quarter of 2006 appears to have a brighter outlook with the company’s signing of contracts worth a total of $6.3 million.
BrandPartners stated the contracts included a merchandising roll-out project for a major regional financial institution, a design and project management expansion project for a Northeast bank, a merchandising project for the conversion of an acquired financial institution and a headquarters branch design project for a West Coast-based credit union. — CINDY KIBBE