NEW BERLIN, Wis.--(BUSINESS WIRE)--(Numbers in thousands, except per share amounts)
FIRSTIME DESIGN LIMITED (FTDL) today announced net sales for the nine months ended September 30, 2017 of $6,620, an increase of 17.1% compared to the same period last year, and consolidated net loss of $146 or ($0.09) per common share for the nine-month period. The loss for the nine months was attributed in part with the acquisition costs related to InnerSpace Luxury Products, LLC (“InnerSpace”) of $263. The Company reported third quarter net sales of $3,104, an increase of 71.4% compared to the same period last year, and consolidated net income of $23 or $0.01 per common share. The Company ended the quarter with $1,818 of cash and cash equivalents on the balance sheet.
About FirsTime Design Limited
FirsTime Design Limited, through its subsidiaries, FirsTime, Inc. and InnerSpace LLC, are industry leading designers, marketers, and distributors of home goods and other sleep environment products, which are sold through multiple, national retailers as well as through a vast network of e-commerce channels. More information can be found at: www.firstimeonline.com or http://www.otcmarkets.com/stock/FTDL/quote.
Cautionary Statement Regarding Forward-Looking Statements
This document contains certain forward-looking statements about FirsTime and InnerSpace, including statements that involve risks and uncertainties concerning FirsTime’s acquisition of InnerSpace and general business outlook. When used in this document, the words "anticipates", "can", "will", "look forward to", "expected" and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of FirsTime, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the anticipated synergies of FirsTime and InnerSpace may not be achieved, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which FirsTime and InnerSpace do business, and the possibility that FirsTime or InnerSpace may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of FirsTime or InnerSpace.