By  on April 10, 2019

Vince, impacted by noncash items, reported a drop in net income for the fourth quarter ended Feb. 2 to $700,000, or 6 cents per diluted share, compared to $74.5 million, or $6.41 per diluted share, for the fourth quarter of fiscal 2017.

However, the company continued to show improvement in its operations, reporting that adjusted net income, excluding these items, was $2.4 million, or 20 cents per diluted share, as compared to an adjusted net loss of $2.4 million, or 20 cents per share, in the same period last year. The net was largely affected by a tax benefit of a year ago and certain impairment charges.

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