Tandy Brands Accessories today reported financial results for the third quarter of fiscal 2009.For the third fiscal quarter ended March 31, 2009, the company reported a net loss of $12.3 million, or $1.78 per share, on net sales of $25.1 million compared to a net loss of $2.2 million, or $0.32 per share, on net sales of $30.1 million for the quarter ended March 31, 2008.
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The 2009 third fiscal quarter results include a noncash inventory write-down of $7.5 million, and a charge of $844,000 associated with a corporate restructuring plan announced in January 2009.For the nine months ended March 31, 2009, the company reported a net loss of $12.6 million, or $1.82 per share, on net sales of $102.6 million compared to a net loss of $44.6 million, or $6.52 per share, on net sales of $119.1 million for the nine months ended March 31, 2008. The prior year nine-month results include charges of $36.5 million associated with the write-down of inventory ($18.7 million) and goodwill and other intangible assets ($17.8 million).
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