NEW YORK — Strong revenue gains led to robust bottom-line growth in the third quarter at JLM Couture Inc.
This story first appeared in the October 7, 2002 issue of WWD. Subscribe Today.
For the three months ended July 31, the New York-based wedding apparel maker and marketer reported net income grew 54.6 percent to $475,569, or 23 cents a diluted share. That compares with profits of $307,658, or 16 cents, in the year-ago quarter.
Sales for the period increased 18.7 percent to $7.5 million from $6.3 million a year ago.
In a statement, chief executive officer Joseph Murphy attributed the revenue gains to increased demand for the firm’s contemporary classic wedding gown and bridesmaid lines, as well as an earlier fall market this year, enabling the company to ship more samples in the current quarter as compared with last year.
For the first nine months of the fiscal year, JLM posted a 31.4 percent jump in earnings to $1 million, or 49 cents a diluted share. In the prior-year period, the company had net income of $779,742, or 40 cents.
Sales for the period grew 16.2 percent to $19.6 million from $16.9 million last year.