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MENAFN - 14/11/2012

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(MENAFN) Bridgeton, Missouri-based Katy Industries Inc. posted a wider quarterly loss as its divisions continue to lose money, the Business Journals reported.

The company said it booked USD2.8 million net loss during its fiscal third quarter ended September 28, compared to USD1.1 million loss a year earlier.

The company, which makes commercial cleaning and home storage products, also reported a 6 percent decline in quarterly sales to USD27.3 million from USD29.1 million a year ago.

Most of the net sales decrease relates to volume decreases in its Continental and Glit business units, Katy officials said.

The company explained that the larger quarterly loss, included USD969,000 in losses from operations of its container manufacturing operation in Norwalk, California, which it closed in the quarter.

The losses also involve USD616,000 loss from the sale of the Gemtex division in the quarter, the company added.

Katy Industries reported USD1.3 million net loss on net sales of USD31.7 million in its second quarter.

 






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