CONCORD GOES BACK TO BLACK
NEW YORK — Concord Fabrics Inc. said earnings for the fourth quarter ended Sept. 1 rose to $187,698, or approximately 5 cents a share, from a loss of $2.3 million reported last year.
Sales in the three months eased 13.4 percent to $35.6 million from $41.1 million.
Earnings for the year came in at $937,918, or 26 cents, rebounding from a loss of $3 million, which included a $660,000 charge in connection with the closing of a plant an aftertax credit of $297,000 related to a loan repayment.
Sales dropped 18.6 percent to $146.6 million from $180.2 million.