Reference Helps Franklin
by Jim Milliot -- Publishers Weekly, 9/6/2004
Driven entirely by sales of higher margin product in its reference group, net income at Franklin Electronic Publishers jumped 178% in the first quarter ended June 30, to $779,000, on a revenue jump of 6.7%, to $16 million.
Sales of reference products rose 18.7% in the quarter, to $14.7 million, which Franklin CEO Barry Lipsky tied to greater consumer awareness of Franklin. Revenue in all other segments fell in the period, including sales of the Rolodex Electronics line, which tumbled to $482,000 from $1.5 million. Sales to Europe rose 31.8%, to $2.9 million, offsetting a 39.7% decline in sales to other international markets, to $769,000.
