REX Stores Corporation (NYS:RSC) has reported the financial results for the third quarter earnings for 2009. The company’s reported net sales and revenue were $64.4 million, 64.4% higher than fiscal 2008 third quarter net sales of $39.2 million. It’s pre-tax income from continuing operations for the third quarter of the fiscal year 2009 was $4.8 million, compared the $2.2 million loss for the previous year during the same period.
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The company held a conference call to review the financial results. The full financial report and a webcast of the conference call is available on the company’s website, http://www.rextv.com/. The webcast and the financial results are on the Investor Relations page of the website.
Rex Stores Corporation is a specialty retailer in the consumer electronics and appliance industry. As of January 31, 2009, the Company maintained ownership interests in four ethanol entities and operated 90 retail consumer electronics and appliance stores under the REX name in 30 states. The Company’s stores average approximately 11,300 square feet, and offer a selection of brand name products within product categories, including big screen and standard-sized televisions, household appliances, video and audio equipment, and ready-to-assemble furniture. The Company operates in two business segments: retail and alternative energy. The retail segment includes all of the Company’s store and distribution center operations, and its real estate sales and leasing activities. As of January 31, 2009, it operated 115 retail stores. The alternative energy segment includes the Company’s investments in ethanol facilities.
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