Polk Audio Inc.The demand for expensive speakers has...

BY THE NUMBERS

May 14, 1991

Polk Audio Inc.

The demand for expensive speakers has dropped during the recession, slashing earnings at this Baltimore-based loudspeaker company.

While sales of its least expensive speakers, retailing for about $200 a pair, have been stable, demand for its top-line speakers, retailing for as much as $3,400 a pair, has fallen, said Gary Davis, a company spokesman. As a result, profits for Polk's fourth fiscal quarter, which ended March 31, dropped to $51,235. As a result of the declining earnings, Polk laid off 14 workers in March, Mr. Davis said.

Three months ended 3/31/91

Revenue ... Net ... Share

'91 ... 6,190,462 ... 51,235 ... 0.03

'90 ... 7,154,129 ... 577,781 ... 0.32

% change ... -13.5 ... -91.1 ... -90.6

Year ended 3/31/91

Revenue ... Net ... Share

'91 ... 27,866,122 ... 1,200,444 ... 0.68

'90 ... 27,540,127 ... 1,927,156 ... 1.09

% change ... +1.2 ... -37.7 ... -37.6

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