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Hartmarx Net Grows In Qtr., Year

NEW YORK — Hartmarx Corp. reported last week that net income for the fourth quarter ended Nov. 30 rose 86.2 percent to $5.8 million, or 16 cents a share, from $3.1 million in the year-ago period.<BR><BR>Earnings per share were a full 6 cents...

NEW YORK — Hartmarx Corp. reported last week that net income for the fourth quarter ended Nov. 30 rose 86.2 percent to $5.8 million, or 16 cents a share, from $3.1 million in the year-ago period.

Earnings per share were a full 6 cents higher than consensus estimates. Sales eked out a 0.1 percent increase to $151.6 million from $151.5 million in the year-ago period.

In the full year, net income grew 82.3 percent to $15.9 million, or 44 cents a diluted share, from $8.7 million, or 25 cents, in fiscal 2003. Sales were up 4.4 percent to $586.4 million from $561.8 million.

The more recent figures include more than $11 million in revenue and 4 cents a share from Misook, the women’s knitwear firm acquired in July. Those effects were partially offset by the discontinuation of an Evan-Picone license.

This story first appeared in the January 31, 2005 issue of WWD.  Subscribe Today.