NEW YORK--Sweater maker Marisa Christina Inc. reported second-quarter earnings of $285,000, or 5 cents a share, against $112,000, or 2 cents, a year earlier, adjusted for an initial public offering in June.
In the quarter ended June 30, sales more than doubled to $11.2 million from $4.9 million.
The company said sales and net income gains reflect the acquisition of Flapdoodles, a children's apparel brand, completed July 1, 1993. Michael Lerner, chairman and chief executive, said both Flapdoodles and the Marisa Christina line were very strong in the second quarter, traditionally the Marisa Christina line's weakest period. In the six months, the company earned $1.9 million, or 33 cents, against $729,000, or 13 cents. Sales jumped to $28.2 million from $13.8 million.
Lerner said he believes the company is well positioned to achieve strong second-half results in both businesses.
The Marisa Christina label is mainly handknit sweaters for women. Flapdoodles includes casual children's and infants' sportswear, swimwear, outerwear and accessories. The company went public at $13 a share on June 22. It closed up 3/4 to 12 3/8 Wednesday in over-the-counter trading.
--Fairchild News Service

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