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Cannondale Posts FY 2000 Results
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Business New Haven
9/4/2000
By: Kristine Hansen
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BETHEL - Cannondale Corp. (NASDAQ: BIKE) announced net sales for its year ended July 1 of $160, 519,000, compared to $176, 819,000 for the previous year. The company attributes the nine-percent decline to inventory adjustments in Europe, expenses for development of its motorsports line and weakening of the Euro vs. the U.S. dollar. The company reported a net loss for the year of $2,526,000 (34 cents per diluted share), compared to net income of $5,923,000 (77 cents per diluted share) for the 1999 fiscal year.
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