MARISA CHRISTINA CONTINUING NET INCREASES 78.9%
NEW YORK — Marisa Christina Inc. reported earnings for the third quarter before special items grew 78.9 percent to $3.4 million, or 40 cents a share, from $1.9 million, or 34 cents, on fewer shares a year ago.
After a $292,420 charge for the early retirement of debt in the latest quarter, earnings for the manufacturer of women’s and children’s wear were reduced to $3.1 million, or 36 cents.
In the quarter, sales rose 9.6 percent to $24.5 million from $22.4 million.
In the nine months ended Sept. 30, earnings before the charge doubled to $5.2 million, or 79 cents, from $2.6 million, or 47 cents. After the charge, earnings in the latest period were $4.9 million, or 75 cents.
Sales gained 45.7 percent to $52.7 million from $36.2 million.
Net income and sales in the nine months of 1994 reflect the acquisition of Flapdoodles, completed in July 1993.
Marisa Christina designs, manufactures and markets women’s apparel including handknit sweaters under the Marisa Christina label. The company also makes children’s and infants’ casual sportswear, swimwear, outerwear and accessories under the Flapdoodles label.
— Fairchild News Service