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RYKA FINANCIAL REPORT SHOWS GLIM PROSPECTS
Published May 23, 1995
Ryka Inc.'s first quarter earnings released yesterday show the "troubled maker of women's footwear is just barely limping along in the aftermath of a failed merger with L.A. Gear," according to this morning's BOSTON HERALD. The company recorded a $2.2M loss for the quarter and "received a 39-day termination notice from its lender, Pro-Specs America Corp." For the quarter, Ryka announced a net loss of $2.2M, or $.08 per share, on sales of $4.1M. The loss includes $683,460 in merger related costs. Ryka President Sherri Poe expressed disappointment over the results, while sources said the company is conducting "due diligence reviews of two unnamed investment partners" (Steff Gelston, BOSTON HERALD, 5/23).