SG&A declined to $8.4 million for the fourth quarter of 2012 from $9.2 million in the previous year. For fiscal 2012 SG&A was $34.0 million or 28.9% of sales versus $28.0 million or 32.5% of sales. The full year decline of SG&A as a percentage of sales is due to the leverage effect from increased sales on a fixed expense base in addition to cost savings measures implemented by the Company during the year.For the three months ended December 31, 2012, the Company had a loss from operations of $0.5 million compared to a loss from operations of $7.3 million for the same period last year. The change is primarily due to a $6.3 million loss on lease obligation charge that was taken during the three months ended December 31, 2011. For the year ended December 31, 2012, the Company’s loss from operations was $11.2 million compared to $21.1 million last year. The $9.9 million year-over-year improvement is primarily due to an increase in overall gross profit of $8.9 million, offset by an increase in selling, general and administrative expense of $6.0 million. Additionally, there were two one-time charges taken in 2011 related to a lease obligation of $6.3 million and goodwill impairment of $1.2 million.
Hampshire Reports Fourth Quarter And Fiscal Year 2012 Results
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