FirsTime Design Limited Announces Fourth Quarter and Fiscal Year 2013 Results

FTDL

FIRSTIME DESIGN LIMITED (FTDL) today announced net sales for the twelve months ended December 31, 2013 of $8,199,000 an increase of 7.2% compared to the same period last year. The Company reported consolidated net income of $749,000 or $0.49 per common share, an increase of 75% compared to the same period last year. Fourth quarter net income was $216,000 or $0.14 per common share, an increase of 136%, as compared to a net income of $92,000 or $0.06 per common share for the same quarter last year. FTDL ended the year with $1,689,000 of cash and cash equivalents on the balance sheet.

President and CEO Christopher D. Bering said, “2013 was another milestone year for us. Sales momentum was strong during the fourth quarter and our merchandise as a whole performed well throughout the year. We continued to see positive results from strong product margins as well as new market penetration. Our plan is to continue to build on our momentum with growth in sales, margin improvements, and the execution of our broad promotional sales strategies and further investments in e-commerce and brand awareness. This outlook reflects the intense foundational work we've done over the last three years, which has us well-positioned to grow the company."

About FirsTime Design Limited

FirsTime Design Limited, through it's subsidiary, License Products, Inc., does business as FirsTime Manufactory, an industry leading designer, marketer and distributor of timepieces and home decor products sold through national and regional retailers.


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