Financial reports: Restoration Hardware, Excelligence Learning

Net loss widens at Excelligence Learning

Monterey, CA–Educational products marketer Excelligence Learning (NASDAQSC: LRNS), which owns the Early Childhood catalog/Web business, posted first-quarter revenue of $15.6 million, a 12% improvement over $13.9 million last year. Nonetheless, the company—formerly known as LearningStar Corp.—saw its net loss grow 32%, to $2.9 million for the three months ended March 31.

1Q direct sales up 5% at Restoration Hardware Fiscal first-quarter net sales at cataloger/retailer Restoration Hardware (Nasdaq: RSTO) fell 2%, to $69.4 million for the three months ended May 4. But catalog and Internet sales increased 5%. As previously announced, sales of furniture shipped to customers are now recognized at the time of delivery rather than shipment.

During the quarter, the Corte Madera, CA-based company delayed a mailing of its redesigned and remerchandised catalog to coordinate with the April implementation of its retailing remerchandising strategy.

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