Posted March 3, 2010
Ironclad posts 9.3% sales gain
Ironclad Performance Wear Corporation reported net sales for the fourth quarter of $4.4 million, an increase of 9.3% percent from the fourth quarter 2008 of $4.05 million.
Gross profit increased 18.8% to $1.7 million, or 38.5% of sales, compared to $1.44 million, or 35.4% of sales in the fourth quarter of 2008.
"In addition to increasing demand for Ironclad products, the company continues to successfully execute on the financial plan it developed in early-2009, as evidenced by our achievement of a second profitable quarter for the year," said Scott Jarus, chairman and CEO. "Despite the lingering global economic downturn, Ironclad has been successful in expanding into new markets and increasing penetration within its existing accounts."
Full-year net sales for 2009 were $13.6 million, representing a 14.1% increase from the 2008 net sales of $11.9 million.
Gross profit increased 13.8% to $5.2 million, or 38.1% of sales, compared to $4.6 million, or 38.2% of sales for full-year 2008.
For the year, Ironclad had a net loss from operations of $609,037 compared to a net loss from operations of $2.2 million for fiscal year 2008.
