Russ Berrie falls 15% on Q2 net loss

Shares of Russ Berrie and Company Inc. (NYSE:RUS) fell 15% this morning after the firm reported at 8:45 a.m. a net loss of $12.1 million, or $0.57 per share, for the second quarter ended June 30.

The results compared with earnings of $365,000, or $0.02 per share, in last year’s second quarter.

Although second-quarter sales increased 24% to $87.7 million, the results included several unusual pre-tax charges totaling $10.4 million.

No major analysts follow the Oakland, N.J.-based infant and juvenile products company.

Russ Berrie Company CEO Bruce Crain noted that the firm’s gift division’s results reflected “continuing weak industry trends.”

This morning, the Russ Berrie is at $8.39, down $1.49 from Monday’s close. The stock has traded as low as $6.58 and as high as $18.48 in the past year.

For detailed price information and news stories on Russ Berrie, click RUS.

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