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Stocks H / Hampshire Group, Limited


Subject:  Re: CFO resigns Date:  11/25/2003  9:27 PM
Author:  Ryan68 Number:  9 of 17

What, the press release didn't answer all your questions? ;-)

Seriously though, I wondered if it had anything to do with the this (from latest 10-Q):

The increase primarily resulted from additional marketing, designing, shipping and related expenses caused by the increased unit volume in the nine-month period ended September 27, 2003, costs related to the development of two new product lines launched in the fall of 2003, and approximately $1,300,000 of non-recurring costs associated with settling a vendor royalty audit

I'm far, far, far, from an expert here and I know royalty audit's are customary but $1.3 million struck me as quite a bit for Hampshire's size.

Reading between the lines it just seems the company wasn't happy with the CFO's performance.


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