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Cannondale Announces Second-Quarter Results
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Business New Haven
2/21/2000
By: Kristine Hansen
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BETHEL - Cannondale Corp. (NASDAQ: BIKE) announced first six month results for the period ended January 1, 2000. Net sales for the period were $77.2 million representing a 14 percent decrease from the prior year net sales of $90.1 million. The company recorded a net loss of $831,000 (11 cents per share) for the first six-month period compared to a $2.6 million net income (34 cents per diluted share) for the comparable prior-year period. The company cited seasonality in the European market and shortages of components due to the earthquake in Taiwan.
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