Nextera Reports Loss in Third Quarter

2006-11-09 | 07:43

Nextera Enterprises, Inc., a Boston-based maker of personal care products, reported a third quarter loss of $0.5 million, compared to a net loss of $0.6 million in the 2005 third quarter. Included in this third quarter loss is a $0.1 million non-cash charge related to the amortization of the step-up in value of inventory acquired as part of Nextera's acquisition of the Woodridge business in March 2006. Net sales for the 2006 third quarter were $3.8 million. The company had no sales in the 2005 third quarter as it did not have any operations until the March 9, 2006 acquisition of the Woodridge business.

"In August, we began distributing our Virtual Laser brand through several of our major retail channels, contributing to a 7% increase in net sales over the previous quarter," said Joe Millin, president of Nextera.