NEW BERLIN, Wis.--(BUSINESS WIRE)--FIRSTIME DESIGN LIMITED (FTDL) today announced net sales for the three months ended March 31, 2015 of $2,300,000 an increase of 12.1% compared to the same period last year. The Company reported first quarter consolidated net income of $218,000 or $0.14 per common share, an increase of 56.9%, as compared to net income of $139,000 or $0.09 per common share for the same quarter last year. FTDL ended the quarter with $2,303,000 of cash and cash equivalents on the balance sheet.
Christopher D. Bering, President and Chief Executive Officer, commented, “Our ability to curate and integrate new categories and businesses, then test and rapidly scale them across our multi-channel platform, is at the core of our ability to gain share in the home furnishings marketplace. Our accelerated revenue and net income growth in the quarter clearly demonstrates the earning power of our business model, and our team’s drive to deliver industry-leading results.”
Mr. Bering added, “The business momentum and strong trends we’re experiencing gives us further confidence in the vision and path of the organization. Looking forward, we remain focused on our value driving strategies, which include the expansion of our product offering, and the continued enhancement of our operating infrastructure. I would like to thank all of our team members for their commitment to our cause, and our partners and shareholders for your continued support.”
About FirsTime Design Limited
FirsTime Design Limited, through its subsidiary, FirsTime Manufactory, Inc., is an industry leading designer, marketer and distributor of decorative timepieces, thermometers and other home décor products sold at major-national retailers. More information can be found at: www.firstimeonline.com or http://www.otcmarkets.com/stock/FTDL/quote.