Net Income Down at Vermont Teddy Bear

Radio, TV, online, and catalog marketing for its new PajamaGram and TastyGram gifts services contributed to a 54% decline in net income for The Vermont Teddy Bear Co. (Nasdaq: BEAR). For the fiscal year ended June 30, net income was $1.1 million, down from $2.4 million the previous year. Net revenue rose 3%, to $40.3 million from $39.0 million last year.

On Aug. 29, Vermont Teddy Bear acquired the net assets and the business of floral cataloger Calyx & Corolla.

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