10 November 2005

Just Fell Off My Charles Ghost Counter Stool


DWRI Last: 7.72 Change: -0.31 -3.86% Volume: 234,020 4:00pm 11/10/2005
After Hours: 4.50 Change: -3.22 -41.71% Volume: 59,260 5:46pm 11/10/2005

But how? And why?

"Given our third quarter results and outlook for the remainder of 2005, we are disappointed in our current performance," said Tara Poseley, CEO and President, Design Within Reach.


Gross profit margin was 43.8% in the third quarter of 2005, compared to 46.5% in the same period last year. The decrease is primarily a result of promotional activities, the strength of the Euro versus the U.S. Dollar, and higher shipping and handling expenses, due to higher fuel costs.

For the third quarter of 2005, selling, general and administrative expenses increased to $16.8 million, from $11.7 million in the same period last year, primarily due to costs associated with opening and operating new Studios, Sarbanes-Oxley compliance and unanticipated expenses associated with the Company's system conversion.


Net sales for 2005 are now expected to be approximately $157 million, about four percent lower than previous expectations.

That would do it.

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