DAC Technologies announced its financial results for the quarter ending March 31, 2009. The company reported net sales of $3,533,456 for the quarter, a 30% increase compared to the $2,715,769 reported for the same period in 2008.
Income from operations totaled $347,858 as compared to $131,512 for the same period in 2008. This represents an increase of $216,346, or 165%. Net income for the first quarter of this year totaled $184,299, a 339% increase over the $41,974 reported for the same period in 2008.
David A. Collins, Chairman and CEO, commented, “The Company is finally beginning to benefit from lower commodity prices and lower shipping rates. This is reflected in the Company’s higher gross margins of 30.33% for the first quarter this year as compared to 26.84% in 2008. Also, the Company benefits from its very strong financial condition, strong balance sheet and low interest cost.”