Canadian office furniture company Inscape reported reduced gross margins, higher selling expenses in the fourth quarter.
The company reported a fourth quarter loss of $206,000, compared to a profit of $241,000 in the same quarter a year before. Sales were up to $19.8 million.
The company said reduced gross margins, coupled with higher fixed selling expenses contributed to the net loss.
But Inscape also recorded a larger loss on derivatives than it did in the fourth quarter last year, booking $408,000 in 2011, versus $200,000 in the fourth quarter of 2010.