Champion Industries, Inc. reported net income of $333,000, or $0.03 per share, in the second quarter of 2010, which ended 4/30/2010. The company reported net income of $295,000, or $0.03 per share, in the same quarter last year.
Sales fell by a single digit percentage on a year over year basis. Champion Industries, Inc. reported sales of $33.7 million in the second quarter of 2010, compared to $36.1 million in the same quarter of 2009.
Champion Industries, Inc. is a diversified company with operations in several different areas including commercial printing, office products and furniture and business forms supply. The company also owns a daily newspaper in Huntington, West Virginia.
The management of Champion Industries, Inc. indicated that the economic environment in the company’s markets was still impacting business.
“Our second quarter continued to see pressure on our top line which reflected the continued fragile state of the economy in relation to our core businesses,” said Toney K. Adkins, the President of Champion Industries, Inc.
Champion Industries, Inc. reported that sales declined in all of its business segments from the year ago quarter. Printing sales dropped by $1.5 million and Office Products and Furniture sales fell by $0.75 million. The Newspaper segment reported a sales decline of $191,000.
For more information on the company, go to www.champion-industries.com
Let us hear your thoughts below: