Handleman Company (HDL) Reports a Q2 Loss
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- Handleman Company (HDL) Reports a Q2 Loss
Handleman Company (NYSE: HDL) reports a Q2 loss of $0.78 vs. consensus for loss of $0.20. Revenues were $315.5 million vs. $296.08 million consensus. (NOTE - only 1 analyst)
On November 28, 2007 the Company announced the election of Albert A. Koch to President and Chief Executive Officer, succeeding Stephen Strome.
Mr. Koch said, "The Company's performance in the second quarter underscores the need to accelerate the pace of change and restore profitability. At a time when the music industry is undergoing dramatic change, Handleman must continue to expand its horizons and pursue opportunities to grow revenues and profit margins, while keeping costs under control. To this end, I am encouraged by the diversification efforts the Company has achieved by adding greeting cards, fee for service and console video game revenues. We will continue to monitor these businesses closely and investigate ways to improve their performance."
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