KENNETH COLE 3RD PERIOD NET CLIMBS 18.3%
NEW YORK — Kenneth Cole Productions Inc., helped by strength in both wholesale revenues and licensed royalties, reported third-quarter earnings rose 18.3 percent on a 22.3 percent sales gain.
In the quarter ended Sept. 30, the footwear and accessories manufacturer earned $4.1 million, or 30 cents a share, up from $3.4 million, or 25 cents, a year ago. Sales advanced to $39.8 million from $32.6 million.
In a statement, president and chief executive officer Kenneth Cole said the licensing component of the company’s business “continued to perform above expectations.”
In the past few months the firm has signed agreements for men’s tailored clothing, women’s scarves, small leather goods and men’s and women’s watches. Licensing income in the quarter climbed to $887,000 from $486,000.
For the nine months, earnings grew 18.5 percent to $9.7 million, or 72 cents a share, from $8.2 million, or 60 cents. Sales came in at $110 million, up 31 percent from $84 million.
The company noted that as of Sept. 30 wholesale order backlog was up more than 35 percent against a year ago.