August 12, 2009
Saddle Store Posts Q2 Income Gain
By Matthew L. Brown
Littleton-based equestrian supplies retailer Dover Saddlery Inc. reported second quarter net income of $340,000 on revenue of $19.1 million.
The profit is a 36 percent increase over the same period a year ago while the quarter's revenue is a 4.2 percent decrease. Same store sales were down 1.6 percent compared to last year.
The company said its "stringent cost reduction initiatives" were to thank for the profit increase.
For the first half of the year, the company reported $35.5 million in revenue, a 5.5 percent decrease from the first half of 2008, and a net loss of $250,000 compared to a loss of $109,000 a year ago.
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