Tristar Mexico sales are "essentially halted," resulting in 47.5% second quarter sales drop.
This article was originally published in The Rose Sheet
Executive Summary
TRISTAR's MEXICO SALES ARE "ESSENTIALLY HALTED" following the devaluation of the Mexican peso in late December, the San Antonio, TX-based distributor reported April 10. Commenting on fiscal 1995 second quarter results (ended Feb. 28), Tristar Corporation noted that "the devaluation essentially halted the sales of the Company's products into Mexico," resulting in a 47.5% decline in second quarter sales to $5.9 mil., compared to $11.3 mil. in the comparable fiscal 1994 period. For the half, sales were down 33.8% to $17.4 mil. Net loss for the three months increased to $1.5 mil. compared to $971,000 in 1994.