House of Taylor Jewelry 3Q Loss Widens
Houston Chronicle, United States
WEST HOLLYWOOD, Calif. — House of Taylor Jewelry Inc. said Tuesday its third-quarter loss widened as costs spiraled higher.
The company reported a loss of $3.1 million, or 8 cents per share, compared with a loss of $1 million, or 3 cents per share, during the same period a year ago.
Quarterly revenue totaled $12 million versus $1.3 million last year.
The cost of goods sold amounted to $11 million, nearly 17 times the same costs a year ago. Selling, shipping and general and administrative expenses took away another $1.9 million. Loss on a change in warrant liability and interest expense came to about $2.3 million.
House of Taylor Jewelry’s shareholders include entities owned by actress Elizabeth Taylor, model Kathy Ireland and members of the Abramov family. Its fine jewelry is sold under the Elizabeth, House of Taylor Jewelry and Kathy Ireland Jewelry brands.
Shares of House of Taylor Jewelry fell 14 cents, or 5.2 percent, to $2.57 in afternoon trading on the Nasdaq.
