Cleaning & Restoration Breaking News

Royal Appliance reports record net sales

February 21, 2002
/ Print / Reprints /
ShareMore
/ Text Size+
Royal Appliance Mfg. Co., maker of Dirt Devil floor care products, had record net sales of $428.4 million for 2001.

CLEVELAND -- Royal Appliance Mfg. Co. (NYSE:RAM), maker of Dirt Devil floor care products, had record net sales for the year ended Dec. 31, 2001 of $428.4 million, which were up 5 percent from last year's record of $408.2 million.

The company reported net income for the year was $9.3 million, a 57 percent leap from the net income for the year ended Dec. 31, 2000, of $5.9 million. The 2000 results include a $930,000 research and development tax credit related to prior years, which increased earnings per share by $.06 in 2000.

Net sales for the fourth quarter ended Dec. 31, 2001 increased 3 percent to $130.7 million from $126.5 million for the comparable 2000 period. Net income for the fourth quarter ended Dec. 31, 2001, was $3.8 million, up 25 percent from the net income of $3 million for the comparable 2000 period.

"Our record net sales over the past three years were due in large part to a strong consumer response to new products in our Dirt Devil floorcare line," said CEO Michael J. Merriman. "The strength of these new offerings has enabled us to maintain the significant market share increases that we achieved in the past few years. The growth in net sales and profits in 2001 were driven by the success of our first consumer electronics product, the Telezapper, which began shipping in the third quarter of 2001."

Royal Appiance also announced a licensing arrangement with The Procter & Gamble Company, and will launch in the second half of 2002 a new product to clean carpets more effectively. This licensing arrangement is the latest outcome of Royal's Product Launch Partners initiative, previously announced last month as LaunchPad Partners.

Glenwillow, Ohio-based Royal Appliance Mfg. Co. (www.dirtdevil.com) enjoys 98 percent brand name awareness in the Dirt Devil name and also manufactures products such as uprights, hand vacs, stick vacuums, canister vacs, wet/dry vacs and sweepers under the Dirt Devil and Royal brand names. These products are now sold through major retailers nationwide.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Have a limited marketing budget but realize the importance of neighborhood marketing? Try doorknob hangers, a low-cost, yet highly effective way to drum up more business. In this episode, John Braun discusses the value of this tactic as well as what you should include on the materials you're hanging.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo