This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Natuzzi S.p.A. Announces Its First Quarter 2011 Financial Results

Stocks in this article: NTZ

The Board of Directors of Natuzzi S.p.A. (NYSE:NTZ), Italy’s largest furniture manufacturer and world’s leading manufacturer of leather-upholstered furniture, today approved its financial results for the first quarter of 2011.

  • Total Net Sales were €121.0 million, down 4.3% as compared to first quarter 2010
  • Industrial Margin was €42.8 million as compared to €48.7 million in first quarter 2010
  • Negative EBIT of €2.5 million, vs. a positive EBIT of €0.5 million in first quarter 2010
  • Net Group Loss of €3.0 million vs. a Net Group Loss of €1.3 million in first quarter 2010
  • Positive Net Financial Position of €74.9 with a considerable improvement as compared to December 31, 2010.

Total Net Sales (including raw materials and semi-finished products sold to third parties) were €121.0 million, decreasing by 4.3% with respect to 2010.Total upholstery sales totalled € 105.4 million with a decline of 5.3% over the same period in 2010.

The break-down of upholstery net sales by geographic area was as follows: Europe (excluding Italy) 49.5%, the Americas 26.1%, Italy 14.1% and Rest of the World 10.3%.The best commercial performances were reported in the Rest of the World area with an encouraging increase of 16.1%. In particular evidence, China has nearly tripled its sales of Natuzzi branded products. A return to a positive performance in Europe with 3.6% was noted. In particular, a recovery of sales of the Natuzzi branded products in Germany (+11.0%) and in Great Britain (+12.0%) was recorded. By contrast, Sales in North America still suffer from the persistent non favourable economic environment.

Industrial margin, 35.4% of sales compared to 38.5% in the first quarter of 2010, mainly reflects the considerable increase in the prices of raw materials.

Further rationalization of the selling and administrative costs (SG&A) allowed an improvement on net sales from 22.1% in first quarter 2010 to 21.4% in first quarter 2011.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs