Concepts Direct Inc. reported net income of $344,000 for the quarter ended Dec. 31, a drop from $3.7 million in the same period the year before.
The firm attributed the differences in net income between the quarters to a one-time gain of $2.4 million from selling surplus land next to its Longmont, CA facility during fiscal 2000.
The database marketing services company posted sales of $22.7 million in the quarter, a 12.5% increase from sales of $20.1 million for the same period in 2000.
For the fiscal year ended Dec. 31, the Longmont, CA-based firm posted a net loss of $3.2 million, down from $2.7 million for the same period in 2000.
Sales increased to $55.8 million, a slight increase over $55.4 million for the same period in fiscal 2000.
“I am not pleased with our financial performance in fiscal 2001,” said CEO Phillip A. Wiland, in a statement. “However, I believe we are creating a foundation for returning our company to dynamic, profitable growth.”
