BRIEF: Slipper maker R.G. Barry says earnings for quarter fell: Timing of shipments skewed numbers, company says

Mon. November 03, 2008; Posted: 02:40 PM

Nov 03, 2008 (The Columbus Dispatch - McClatchy-Tribune Information Services via COMTEX) -- DFZ | Quote | Chart | News | PowerRating -- Sales and profit were down for R.G. Barry Corp. during its first fiscal quarter, though the Pickerington-based footwear company said the results were skewed by the timing of major shipments.

The company has $25.6 million in sales, down 20 percent from the same quarter last year, and $1.1 million in profit, down 71 percent.

"This quarter is a perfect illustration of why we caution people to avoid measuring us quarter-to-quarter," said Greg Tunney, president and chief executive, in a statement. "Our business is highly seasonal and best analyzed on an annual basis."

He said some shipments were later than last year, so they were not included in the first-quarter results, but will be reflected in the second quarter.

"Our shipments to retailers are on time and our sell-through at retail has been healthy thus far in fiscal 2009," he said. "We expect the timing issue that negatively influenced the results of the first quarter to be reversed in the second quarter and for it to have a minimal impact on our stated expectations for the full fiscal year."

The company's shares were up 15 cents, or about 3 percent, to $5.31, in late-morning trading.

dgearino@dispatch.com

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