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. Second Quarter And First Half 2012 Financial Results

Stocks in this article: NTZ

The Board of Directors of Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi” or “the Company”), a leading company in the furnishings industry, today approved its financial results for the second quarter and the first semester of 2012.

SECOND QUARTER 2012 HIGHLIGHTS

  • Total Net Sales at €120.3 million, from €121.4 million reported for the quarter ended on June 30, 2011;
  • Industrial Margin at 33.5% on total net sales, slightly better than 33.4% reported in last year’s comparable period;
  • Negative EBIT of €0.6 million, improving from a negative EBIT of €5.5 million reported for the second quarter of 2011.

FIRST HALF 2012 HIGHLIGHTS

  • Total Net Sales at €230.7 million, from €242.2 million reported for the first six months of last year;
  • Negative EBIT of €8.0 million, as compared to a negative EBIT of €8.1 million reported for the first semester of last year;

Positive Net Financial Position at €44,1 million as of June 30, 2012, as compared to €55.3 million as of December 31, 2011.

SECOND QUARTER 2012 FINANCIAL RESULTS

During the quarter ended June 30, 2012, Total Net sales (including raw materials and semi-finished products sold to third parties) amounted to €120.3 million, down by 0.9% from €121.4 reported in second quarter 2011.

Total upholstery net sales were €105.6 million, flat over the prior year comparable period, but increasing by €9.8 million over first quarter 2012. Other sales during the second quarter 2012 were €14.7 million.

The breakdown by geographic allocation of total upholstery net sales was the following:

          2 quarter 2012       2 quarter 2011    
Americas 44.2% 34.4%
Europe (ex Italy) 34.0% 40.1%
Italy 7.8% 11.0%
Rest of the World 14.0% 14.5%
 

The above table shows that the trend in sales within different regions, experienced in the first three months of the year, has continued also during the second quarter of 2012. The weight of sales from Europe (included Italy) has further reduced as consequence of the extreme weakness of economic activity in that region and because of uncertainties surrounding the families’ purchase decisions (in particular on durable goods) deriving from the austerity-driven policy still in place in some EU Countries; on the contrary, the positive trend in sales from the Americas region is confirmed also in second quarter 2012, thanks, in particular, to the performance from the USA (+22.1% over the last year’s second quarter), Canada (+57.6%), Brazil (+65.2% at €1.6 million).

1 of 5

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 17,265.83 -151.02 -0.87%
S&P 500 2,007.56 -13.69 -0.68%
NASDAQ 4,663.9810 -19.4260 -0.41%

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