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Trans World Entertainment Corp. (TWMC)
Q2 2012 Earnings Results Conference
August 16, 2012 10:00 AM ET
Robert J. Higgins - Chairman and CEO
Mike Honeyman - President and COO
John Anderson - Acting CFO
Harsha Gowda - BlueShore Capital
Tamas Eisenberger - BlueShore Capital
Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Trans World Entertainment Second Quarter 2012 Results Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded.
I’d now like to introduce your host for today’s presentation Mr. Bob Higgins, Chairman and CEO, of Trans World Entertainment. Mr. Higgins, you may begin sir.
Robert J. Higgins
Thank you, Howard. Good morning. Thank you for joining us as we discuss our second quarter and first half results. On the call with me today are Mike Honeyman, our President and Chief Operating Officer; and John Anderson, our acting Chief Financial Officer. John was recently named acting CFO after the resignation of our previous CFO. John has been with the Company for over 18 years, since 2006 he has been our Corporate Controller and his promotion represents the strength of our financial team and the confidence we have in John and our finance team.
Continued improvement in our gross margin rate and reduced SG&A expenses help drive our 10th consecutive quarter of improved operating results. For the second quarter, our bottom line improved by $5.4 million or 74% to a net loss of $1.9 million from a net loss of $7.3 million in the second quarter of 2011.