House of Fabrics Reports Record Quarterly Profit
House of Fabrics reported a record quarterly profit of $4 million, or 61 cents a share, for the third quarter ended Oct. 31. It marked a 53% jump in profit compared to earnings of $2.6 million, or 40 cents a share, a year earlier.
The Sherman Oaks company, which operates 687 fabric stores, said its third-quarter revenue was $87.3 million, compared to $86.2 million a year earlier.
For the nine months ended Oct. 31, the company reported its net income rose 59% to $6.2 million, or 94 cents a share, compared to $3.9 million, or 60 cents a share, a year earlier. Revenue was $230 million compared to $227 million.