MILLER JOINS LANE AS PRESIDENT
NEW YORK — Andrew Miller has joined Jenna Lane Inc., a moderate sportswear manufacturer, as president and chief operating officer.
Mitchell Dobies, who was president, continues as co-chief executive officer and adds the title of co-chairman. Charles Soble is the other co-chairman and co-ceo.
Dobies said that part of Miller’s job is to assume responsibilities that had been handled by Jeffrey Marcus, who resigned as chief financial officer this month.
Most recently, Miller was a private consultant. Prior to that, he was executive vice president of Norton McNaughton, a moderate sportswear firm.
Jenna Lane recently reported net income in the fourth quarter ended March 31 rose sharply to $267,772, or 5 cents a share diluted, versus $19,154, or 1 cent, in the prior year.
Operating income was $457,865, compared with $159,007 in the year-ago period. Sales increased 20.7 percent to $11.8 million from $9.8 million.
For the year, net income rose to $517,159, or 9 cents, versus $61,260, or 3 cents, a year earlier.
Operating income more than doubled to $919,324, compared with $450,395.
Sales rose 20.3 percent to $42.6 million from $35.4 million.
Per-share earnings are adjusted for a 10 percent stock dividend distributed March 13.
Jenna Lane also reported that as of May 28, its order backlog totaled $15.1 million, compared with $8.5 million on June 1, 1997.