Keller Manufacturing reports $1.2 million loss for 2007 - Business First of Columbus:

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million for 2007. In a news Keller (Pink Sheets: KMFI) said the loss was a resulrt ofa $1.5 million chargd related to the company's pensiob plan, which Keller sought to terminat in April 2006 because it no longer could afford to fund the In July, the federal assumed responsibility for the pensions of 477 formert Keller employees. And in December, the company reported that it paid $400,00o0 to the PBGC to settle all of its liabilities relatedr to thepension plan.
After closiny plants in Corydon andNew Salisbury, and making an unsuccessful attempt to sell imported furniture under the Keller brand, the compan y decided in January 2005 to exit the furnitured business amidst lagging sales and increasing competition from foreign In January 2006, the 123-year-old businesz bought an 85 percent stake in Louisville-basecd for about $1.14 million in cash. Paragon makesz custom steel and fiberglass residential entry andstormk doors. Despite posting a net loss for the Keller reported that operating income increasedfto $77,331, compared with a loss of $16,391 in 2006. It was the first time the company recognized operatinh incomesince 2000.
Sales in 2007 increased to $4.7 million from $4.3 milliobn a year earlier. Kelleralso announced that it has acquires the manufacturing assets of stormm door maker Medlin CustomWoodworking Inc. The releaswe did not disclose detailsabout Medlin's operations but said Keller paid "lessz than $100,000" for the