Vermont Teddy Bear Cuddles Up to Q2 Increase

The Vermont Teddy Bear Co.

(Nasdaq:BEAR) reported a 44% increase in second-quarter net revenue, to $13.4 million for the three months ended Dec. 31, compared with $9.3 million for the same period of 2002. Net income during the quarter, $372,000, was more than three times greater than the $81,000 it recorded 12 months prior.

The sales increase is primarily attributable to Calyx & Corolla, the fresh-flowers cataloger that the company bought in August, and to increased revenue from the PajamaGram titles. These increases offset a decline in the Shelburne, VT-based company's BearGram segment.