23 October 2003 – Lincoln (RI): AT Cross has reported a Q3 loss as its writing instruments segment continued to struggle.
The firm posted a net loss of $1 million, or $0.06 a share, compared to net income of $1.3 million, or $0.08 a share, in Q3 2002.
Sales for its primary writing instruments segment fell to $28.1 million from $29 million in Q3 2002. Overall sales rose more than 7% to $31.3 million from $29.1 million, due to the performance of its recently acquired sunglasses manufacturer Costa Del Mar.
CEO David Whalen said: "Although the overall environment has remained challenging, we did experience pockets of strength during Q3, including a rebound in our Asia business and growth in our corporate gifts business."