Company description

Wed, 30 Jul 2008 04:00:00 GMT

Based in Woonsocket, Rhode Island, SUMMER INFANT, INC. is a designer, marketer and distributor of branded durable juvenile health, safety and wellness products (for ages upto three years), which are sold principally to large U.S. retailers. The Company currently sells proprietary products in a number of different categories, including nursery audio/video monitors, safety gates, durable bath products, bed rails, infant thermometers and related nursery, health and safety products, booster and potty seats, soft goods, bouncers, strollers, travel accessories, highchairs and swings.

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Sun, 03 Oct 2010 04:00:00 GMT

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"We are very pleased with the strong sales momentum we experienced during the second quarter," stated Jason Macari, Chairman and Chief Executive Officer of Summer Infant. "Our continued focus on product development combined with several acquisitions over the past 24 months is increasing our shelf presence with retailers and driving important market share gains. Importantly, we are seeing robust demand across multiple categories and throughout our account base which bodes well as we look to further diversify our business in terms of product offering and distribution channels."

"Based on our second quarter sales performance and current forecasts for the back half of the year, we now expect 2010 revenue to be at least $185 million, up from our previous outlook of $175 million," continued Mr. Macari. "We remain very encouraged with the reaction to our 2011 product line and continue to expect double digit percentage revenue growth next year. In preparation for the anticipated acceleration of our top line, we are making additional investments in our operating platform that will offset the profit contribution of our increased sales outlook for the remainder of fiscal 2010. That said, earnings are still projected to grow at a faster rate than sales this year and we would expect that ratio to further improve in 2011."

Mr. Macari concluded, "We pass the halfway mark of 2010 very encouraged with the progress we have made expanding our market position. As we execute against our long-term growth priorities, we will continue to distinguish ourselves as an industry leader through our focus on creating innovative product while at the same time further streamlining our operations to drive improved efficiency across our organization. We move forward with a very strong foundation in place that we believe will allow us to successfully capitalize on the many organic and strategic growth opportunities we have identified both domestically and overseas."

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