Russ Berrie & Co. swings to Q4 loss, announces acquisitions
Russ Berrie & Co. (NYSE:RUS) announced after Tuesday’s close that it plans to buy two infant and juvenile businesses for $63 million. The two companies – infant furniture maker LaJobi Inc. and infant bedding and accessory maker CoCaLo Inc. – are privately held.
Also after Tuesday’s close, Russ Berrie reported that it swung to a fourth-quarter net loss of $8.3 million, or $0.39 per share, from earnings of $1.3 million, or $0.06 per share, a year earlier. Quarterly revenue rose 14% to $84.5 million from $83.9 million during the same period of 2006.
In afternoon trading, RUS shares are down 3.26%, or $0.47, at $13.93. For detailed price information and recent news stories about Russ Berrie & Co., click RUS.
