New Berlin-based clock manufacturer and distributor FirsTime Design Ltd. on Wednesday reported first quarter net income of $218,000, or 14 cents per share, up 57 percent from net income of $139,000, or 9 cents per share, in the first quarter of 2014.
The company, which is an over-the-counter stock, distributes its decorative timepieces, thermometers and other home décor products through subsidiary FirsTime Manufactory Inc. to major national retailers including Menomonee Falls-based Kohl’s Corp.
Net revenue for the first quarter was $2.3 million, up 12 percent from the same period a year ago.
“Our ability to curate and integrate new categories and businesses, then test and rapidly scale them across our multi-channel platform, is at the core of our ability to gain share in the home furnishings marketplace,” said Christopher Bering, president and chief executive officer. “Our accelerated revenue and net income growth in the quarter clearly demonstrates the earning power of our business model, and our team’s drive to deliver industry-leading results.”
