Women's apparel manufacturer Bernard Chaus Inc. reported on Thursday a 41 percent drop in third-quarter earnings on a 4 percent sales decline. Results for the nine-month period, however, had significantly improved in comparison with the prior year's...
Women's apparel manufacturer Bernard Chaus Inc. reported on Thursday a 41 percent drop in third-quarter earnings on a 4 percent sales decline. Results for the nine-month period, however, had significantly improved in comparison with the prior year's period.
For the three months ended March 31, net income fell to $563,000 or 1 cent a diluted share, from $951,000, or 3 cents, in the year-ago period. Revenue decreased 4 percent to $38.2 million from $39.7 million.
For the nine-month period the company swung to a profit of $3.1 million, or 8 cents a diluted share, from a loss of $3.8 million, or 10 cents, last year. Revenue increased 17 percent to $117.1 million from $100.5 million.
"The company achieved significantly improved results for the year-to-date period reflecting higher revenue and lower costs as a percentage of sales," said Josephine Chaus, chairwoman and chief executive officer, in a statement. "We continue to focus on our three-pronged strategy of growing our branded, private label and licensed business." Bernard Chaus designs, sources and markets women's career and casual sportswear through the Josephine Chaus, Chaus, Cynthia Steffe and Cynthia Cynthia Steffe trademarks, as well as a private label brand.
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