Year ends on bullish note for Vermont Teddy Bear

Multichannel gifts marketer Vermont Teddy Bear (Nasdaq: BEAR) ended its fiscal year with a 5% uptick in sales and flat income compared with last year. For the 12 months ended June 30, total net revenue was $39.0 million, compared with $37.3 million for the previous fiscal year. Net income was $2.4 million.

For the three months ended June 30, revenue was $11.2 million, up 10% from $10.2 million for the previous fiscal fourth quarter. The company attributes the gain to strong Mother’s Day sales. Net income for the quarter increased 17%, to $630,000 from $539,000.

Growth in the Bear-Gram business in fiscal 2002 was driven primarily by increased net revenues from the company’s PreFUR’d Member loyalty marketing program and other Internet marketing programs that have lower marketing and selling costs as a percentage of revenue than the company’s traditional radio advertising.

Net revenue for gifts subsidiary SendAmerica was $361,000. After conducting market research and evaluating returns on advertising dollars, Vermont Teddy Bear decided to focus the activities of SendAmerica exclusively on food-related gifts, renaming the catalog/Web unit Tastygram.