NEW YORK — Earnings at Donnkenny Inc. rose 52 percent in the fourth quarter and 49.9 percent for the year.
Donnkenny said it will have a gain of 10 to 12 cents a share in the first quarter of 1994 from the sale of the Ship ‘N Shore trademark to its licensee, Montgomery Ward.
In the quarter ended Dec. 4, the company earned $3 million, or 48 cents a share, against $2.2 million, or 59 cents, a year ago on fewer shares. Donnkenny went public in June 1993. Sales in the quarter were up 17.7 percent, to $43.3 million from $36.8 million. For the year, the company earned $7.2 million, or $1.47 per share, before a $453,000 charge for early retirement of debt. After the charge, net earnings were $6.8 million, or $1.38 a share, against $4.5 million, or $1.21 a share. Sales in the year rose 13.9 percent, to $144.1 million.