Target said its revenues for its fiscal fourth quarter ended June 30, totaled $21.1 million, an 8.2% increase over revenues of $19.5 million in the same period last year. Yet operating losses also increased for the quarter, rising to $1.15 million compared to losses of $394,826 reported last year. Target also reported a net loss of $693,803 for its fourth quarter, down slightly from a net loss of $765,845 last year.
Net losses for Target’s fiscal fourth quarter included an income tax benefit of $522,686, and the net loss for the same period last year included a provision for income taxes of $351,198.
Target said revenues for fiscal 2001 increased 7.2% to $90.1 million compared with $84 million for fiscal 2000. Yet annual losses also increased, climbing to $2.32 million for fiscal 2001, compared to $1.04 million in fiscal 2000. The company reported a fiscal 2001 net loss of $1.77 million, compared with a net loss of $1.19 million for fiscal 2000.