Vermont Teddy Bear Posts 12% Sales Gain, Launches SendAmerica Print Catalog

Shelburne, VT—For its fiscal year ended June 30, The Vermont Teddy Bear Co. (Nasdaq: BEAR) posted net revenue of $37.3 million, up nearly 12% from $33.3 million the previous year. Net income fell by about one-third, however, from $3.7 million to $2.4 million. The manufacturer/marketer blamed the decline in income ot a nearly $1.5 million increase in taxes, having used nearly all its remaining net operating loss carryforward last year.

In addition to its core catalog and product line of special-occasion teddy bears, Vermont Teddy Bear operates SendAmerica, a wholly owned subsidiary that sells gifts from U.S. artisans. Launched as a Website in 1999, SendAmerica is debuting its first print catalogs this holiday season. The 32-page SendAmerica is being mailed this month to 300,000 of Vermonth Teddy Bear’s best female customers and women gift buyers from other catalogers.

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