Bell Industries Inc., El Segundo, Calif., reported a narrowing in the company’s net loss for its full year, ended Dec. 31.
The firm, which supplies aftermarket products to the RV and marine industries through its Eagan, Minn.-based Recreational Products Group, reported year-end sales fell to $130.9 million from $144 million in 2004. The company’s net loss for the full year was $799,000, which included approximately $1.8 million in charges, compared to a net loss of $953,000 a year prior.
Fourth-quarter revenues dipped to $25.7 million from $26.2 million the previous year while its net loss was $1.5 million compared to a net loss of $767,000.
The company said that during the fourth quarter it posted approximately $600,000 in staff separation and reorganization charges. In addition, Bell incurred approximately $850,000 in higher-than-usual start up and related costs associated with a new depot services contract.
Fourth-quarter revenues for Bell’s Recreational Products Group rose 7.2% to $8.4 million from $7.9 million last year, primarily reflecting higher preseason marine product shipments and an early snow season which generated additional sales of snow-related products. The division sustained a lower operating loss of $122,000 for the fourth quarter, compared with a loss of $221,000 a year ago.
Last December, Bell made an unsolicited offer to buy Coast Distribution System Inc., which was rejected by the Morgan Hills, Calif., company’s board in February.