Vera Bradley posts profitable first quarter in 2016

FORT WAYNE, Ind. (WOWO): Vera Bradley has turned around financially.

At least, that’s if you go by the fiscal first quarter report the company released this week. The company is reporting a net income of $2.4 million in the first fiscal quarter of this year, according to Inside Indiana Business. That’s a big turnaround from a $4.1 million loss the company had in the same period last year.

CEO Robert Wallstrom says the improvement is due to more efficient operations. He also says the company is trying to transform its brand, drive core growth, and exploring licensing and growth opportunities globally.

The good financial news comes after a fourth quarter that showed a dip in income.

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