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Gold/Mining/Energy : Sterling Shoes Income Fund -- Ignore unavailable to you. Want to Upgrade?

To: Brian who wrote (22)	8/13/2010 5:34:44 PM
From: Brian	Respond to of 38

Despite the stat's canada increases in shoe sales, Sterling Shoes sales in q2 were 6.6% lower than q2 2009. Management has been attempting to increase gross margins at the expense of sales, yet gross margins were not terrific this quarter as they were in q1. Very disappointing! There were non-recurring items totaling $500 thousand in q2 for items such as professional fees incurred with respect to the conversion to a corporate entity, executive search costs related to the search for a new President and CEO, as well as additional costs required to support the legacy system while the new information technology system is being implemented. Bottom line... I don't see any reason to believe a better q3 than q2 and thus expect another loss of between 18 and 26 cents depending on the q3 non-recurring items.