Sherwood forecasts record 1st-qtr revenue, income
ROCKVILLE, Md. , Nov 13 (Reuters) - Confectionery and gift company Sherwood Brands Inc. (AMEX:SHD - news) on Tuesday said it expects to report record revenue and net income for the first quarter on strong Halloween sales and promising orders for the Christmas and Easter seasons.
The Rockville, Maryland-based company, whose brands include Ruger wafers, estimated net income for the first quarter increased to about $1.6 million, or about 41 cents per diluted share, from $1.5 million, or 39 cents per diluted share, a year earlier. Revenues rose to $20.5 million from $19.7 million, the company said.
In October Sherwood reported a fourth-quarter loss of $500,000, or 13 cents per diluted share.
``The company enjoyed a strong Halloween season, and we are pleased by the pace of orders for the Christmas and Easter seasons that are now under way,'' said company President and Chief Executive Uziel Frydman.
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