NEW YORK — Helped by an after-tax gain of $693,000 from the sale of its Ship ‘N Shore trademarks to Montgomery Ward, Donnkenny Inc. reported earnings more than doubled in the first quarter ended March 5.
Earnings jumped to $2.1 million, or 34 cents a share, including the gain, up from $805,000, or 22 cents, in the 1993 quarter. Excluding the special gain, the sportswear maker’s profits climbed 80.2 percent.
Sales volume of the sportswear and sleepwear maker increased 3.8 percent, to $30.6 million from $29.4 million in the year-ago quarter.
Per-share figures are based on 6.3 million average shares outstanding in the latest period, against 3.7 million a year earlier.