The Vermont Teddy Bear Co. Inc., Shelburne, VT, reports a net profit for the fiscal year ended June 30, 1999, of $1.7 million, as compared to a net loss in the prior year of $1.8 million.
Company revenues for the fiscal year increased 25% to a record level of $21.6 million, from $17.2 million for the like period last year.
Driving the revenue increase is the company’s continued national expansion of its direct response radio campaign as well as an increase in sales on the company’s Web site (http://www.vermontteddybear.com). The company advertised on 275 stations in 50 radio markets during the fiscal year, according to a statement.
Vermont Teddy Bear is planning to open a satellite production operation in November.
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