FirsTime Design Limited Announces Second Quarter Results

FIRSTIME DESIGN LIMITED (FTDL) today announced net sales for the six months ended June 30, 2013 of $3,766,000 an increase of 18.4% compared to the same period last year. The Company reported consolidated net income of $288,000 or $0.19 per common share, an increase of 23.6% compared to the same six-month period last year. Second quarter net income was $156,000 or $0.10 per common share, an increase of 32.2%, as compared to a net income of $118,000 or $0.08 per common share for the same quarter last year. FTDL ended the quarter with $1,400,000 of cash and cash equivalents on the balance sheet.

Commenting on the results, Christopher D. Bering, FirsTime’s President and COO, said, “We are pleased with the results as they demonstrate ongoing progress in our revenue growth and profitability. Operating efficiency remains very much top of mind, and the decisions we are making today are positioning our company for long-term sustainable growth and profitability." Bering closed by saying, "Our management team remains committed to improving operating margins, increasing cash flow and maintaining a strong balance sheet for the benefit of shareholders."

About FirsTime Design Limited

FirsTime Design Limited, through its subsidiary, License Products, Inc., does business as FirsTime Manufactory, an industry leading designer, marketer and distributor of timepieces and home decor products sold through national and regional retailers.

FirsTime Design (CE) (USOTC:FTDL)
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