L.L. Knickerbocker Reports Fourth-Quarter Income
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LAKE FOREST — L.L. Knickerbocker Co., which markets jewelry and collectibles, reported fourth-quarter net income of $609,000, or 3 cents a share, compared with a net loss of $92,000, or 1 cent a share, for the corresponding period last year.
Revenue was down slightly to $23.1 million from $23.2 million. For the year, the company said it lost $4.4 million, or 24 cents a share, compared with profit of $1.4 million, or 9 cents a share. Revenue increased 62% to $68.3 million from $42.1 million.
The increase in revenue was due primarily to the inclusion of a full year of results from the direct response and jewelry lines. The company said consolidation of six acquisitions made in late 1996 took longer and cost more than anticipated.
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