Last updated on July 7th, 2019 at 02:30 pm
New Berlin-based FirsTime Design Ltd. reported second quarter net income of $129,000 or 9 cents per common share, a 50 percent decrease compared to the same period last year.
Revenue for the six months ending June 30 was $3.8 million, down 17 percent from last year. Net income during that period was $374,000 or 25 cents per common share, down 21 percent.
The company ended the second quarter with $3.7 million in cash and cash equivalents on its balance sheet.
FirsTime designs, markets and distributes decorative timepieces, thermometers and other home décor at retailers including Kohl’s, Bed Bath & Beyond, Bon-Ton stores and more.
The company partners with manufacturers in China and Southeast Asia to produce products and has a 50,000-square-foot distribution facility in New Berlin.