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Kid Brands Q1 Loss Widens

Kid Brands, Inc. (KID) reported a first-quarter net loss of $0.8 million or $0.04 per share, wider than the net loss of $0.3 million or $0.02 per share in the same period last year.

Excluding items, adjusted net income for the quarter was $0.3 million or $0.02 per share, compared to adjusted net income of $1.7 million or $0.08 per share a year ago.

On average, 2 analysts polled by Thomson Reuters expected the company to lose $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 7.7 percent to $55.2 million from $59.8 million in the year-ago quarter. Analysts expected revenues of $55.53 million for the quarter.

Looking forward, the company expects net sales and non-GAAP adjusted net income for the second quarter of 2012 to improve sequentially .

by RTT Staff Writer

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