*Acquisition Boosts Vermont Teddy Bear’s Fortunes, Expansion Planned The Vermont Teddy Bear Co. Inc. reported $1.7 million in net income during its fiscal 2004, up from $1.1 million during fiscal 2003. The Shelburne, VT-based gift marketer saw its revenue rise, from $40.3 million to $55.8 million, primarily due to its acquisition of the Calyx and Corolla floral business. Calyx and Corolla contributed nearly all of the revenue increase during the fiscal year, which ended June 30.
Vermont Teddy Bear will soon complete an expansion to its distribution facility, which will double the 60,400-square-foot edifice it opened during fall 2000. The addition will include extra picking lines for its PajamaGram and Calyx business, as well as more room for its BearGrams to accommodate an increase in the number of orders that are personalized just prior to shipment.
The company will also ultimately consolidate its call center operations into a 25,000-square-foot space within the new facility, expanding its 200-seat capacity to 250 seats.
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