Net loss narrowed 18% to $11,082,000 for the fiscal third quarter ended Dec. 31, from $13,499,000 on sales that were down 33% to $98,079,000 from $147,258,000. The company managed to shore up some of the bleeding of recent quarters, seeing gross margin improve 300 b.p. to 23.3% from 20.3%, while SG&A was cut 36%, improving as a percent of sales by 140 b.p. This resulted in operating loss tightening 47% to $10,288,000 from $19,314,000 in the prior year. Along with cuts to contract labor, the company also announced a 15% cut ... Log in to view full article.