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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Natuzzi S.p.A. Fourth Quarter And Fiscal Year 2012 Financial Results

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 consolidated financial results for the fourth quarter and fiscal year of 2012.

FOURTH QUARTER 2012 HIGHLIGHTS

  • Total Net Sales at €126.5 million, down 2.4% from €129.6 million reported for the fourth quarter 2011;
  • Industrial Margin at 31.6% on total net sales, down from 33.3% reported in last year’s comparable period;
  • Negative EBIT of €7.0 million, improving from a negative EBIT of €10.3 million reported for the fourth quarter of 2011.

FISCAL YEAR 2012 HIGHLIGHTS

  • Total Net Sales at €468.8 million, 3.6% down from €486.4 million reported for 2011;
  • Industrial Margin at 33.1% on total net sales, substantially in line as compared to the prior year;
  • Negative EBIT of €17.3 million, improving with respect to a negative EBIT of €27.3 million reported for the full 2011;
  • Positive Net Financial Position at €40.0 million as of December 31, 2012, as compared to €55.3 million as of December 31, 2011.

FOURTH QUARTER 2012 FINANCIAL RESULTS

During the quarter ended December 31, 2012, total net sales (including raw materials and semi-finished products sold to third parties) amounted to €126.5 million, down 2.4% from €129.6 million reported in fourth quarter 2011.

Total upholstery net sales during the last quarter of 2012 were €110.5 million, decreasing 3.5% from €114.6 million reported in prior year comparable period. The sales decrease in the quarter is mainly due to the performance of the high-end Natuzzi Italia branded products, whose sales decreased by 22.0% compared to 2011 fourth quarter. Sales of “Other Brands” increased by 9.6% with respect to one year ago.

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

            4 quarter 2012       4 quarter 2011    
Americas 40.6% 33.4%
Europe (ex Italy) 36.6% 43.1%
Italy 8.9% 10.0%
Rest of the World 13.9% 13.5%
 

The above table confirms the decreasing trend of sales from Europe (Italy included), as consequence of the extreme weakness of consumption, further burdened by fiscal consolidation measures still in place in some Euro-area Countries that affect the purchasing power of families. The Americas region is confirmed as the main area in terms of Group’s sales.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

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