Financial advisor Navigant Capital Advisors has been brought in to assist the company in exploring “unspecified strategic alternatives to enhance shareholder value”.
A number of options are reportedly being considered, including the possible sale of the company, which reported net income of $10.5 million in 2005, compared to $3.5 million a year prior. During this time, Radica's sales increased 31.9 percent to $162.8 million from $123.4 million.
Any decision could take several months and while several options are being considered, none are a certainty at this point. The company said that it will not make any further announcements until the board of directors have completed the analysis of the proposed alternatives