Cataloger Damark International Inc., based in Minneapolis, recorded a net loss of $906,000 down from net income of $135,000 in 1998. Cash used by operations was $3.8 million compared to $10.1 million provided in the same period last year.
For the quarter, the company reported catalog retail net revenues were down 25.8% to $84.4 million from $113.7 million last year. The firm’s membership services business produced net revenue of $25.1 million for the quarter for the quarter ended April 3, 17.2% more than the $21.4 million reported in the comparable period in 1998. Total net revenues for the quarter were $109.4 million, down 19.0% from $135.1 million in the prior comparable period.
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