TANDY BRANDS EARNINGS RISE TO $1.1 MILLION IN 4TH QUARTER
ARLINGTON, Tex.--Tandy Brands Accessories reported fourth-quarter earnings climbed 13.1 percent to $1.1 million, or 21 cents a share, from $957,000, or 19 cents a year ago. Sales for the manufacturer of men's and women's accessories grew 54.4 percent in the quarter ended June 30 to $19.5 million from $12.6 million. Certain assets of Prince Gardner Inc., manufacturer of men's and women's small leather goods, were acquired in April for $7.7 million. For the three months ended June 30, net sales for Prince Gardner operations were $3.3 million. For the year ended June 30, earnings advanced 24 percent to $5.1 million, or 97 cents, from $4.1 million, or 80 cents in 1993. Sales in the year gained 36.3 percent to $68.4 million from $50.2 million.
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