Revenues Bump Up For Dover Saddlery
Strong retail sales, fueled by the opening of a new store, helped equestrian-products maker Dover Saddlery of Littleton increase revenues 2 percent to $20.2 million in the second quarter compared with last year.
Despite the revenue increase, profits for the company fell slightly from $869,000 in the second quarter of 2010 to $627,000. The company said a one-time insurance payout boosted profits last year.
Through the first half of 2011, sales are beating last year's pace by 4 percent to land at $37.5 million. Profits are up from $677,000 last year to $752,000 this year.
The company recently opened its 14th store and has plans to open another this year.
The company said because of the uncertainty of long-term economic conditions, it would not provide guidance on financial results for the rest of the year.
WBJ Web Partners
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