March 17, 2010
Tack Company Expects Stronger Earnings
By Matthew L. Brown
Littleton-based equestrian supplies company Dover Saddlery said cost cuts made during the year may result in a revenue increase of more than 20 percent.
In a preliminary earnings statement, the company said it expects revenue for 2009 to increase by about 20 percent from the $3.3 million it reported the prior year. Also during the year, the company reduced its revolving credit line from $8.3 million to $3 million.
For the first nine months of the year, revenue was $54.1 million, a decrease of 4.5 percent from $56.6 million last year. Same store sales decreased 4.3 percent.
The company reported a $21,448 profit for the nine months of the year compared to $65,029 a year ago.
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