JACLYN HAS PROSPEROUS QUARTER
NEW YORK — Jaclyn Inc. reported second-quarter earnings of $162,000, or 6 cents a share, a 58.8 percent jump compared to year-ago results.
The fiscal 2000 quarter produced net income of $102,000, or 4 cents.
Sales for the period ended Dec. 31 were up 26 percent to $23.4 million from $18.5 million a year ago.
Allan Ginsburg, chairman, said in a statement he was “encouraged” by the strength the company has shown over the past year. “The apparel side of the business continues to add to sales volume and profitability,” he said.
During the quarter the company also acquired certain assets of the I. Appel corporation. Ginsburg said the robe, duster and loungewear business, based here, “fits into our strategic plan.”
For the six months, net income was $296,000, or 11 cents a share, a 56.6 percent improvement over year-ago results of $189,000, or 7 cents.
Sales rose 27.3 percent to $43.5 million from $34.2 million a year ago.
The West New York, N.J.-based firm markets handbag products under trademarks and trade names including Shane and Aetna, Susan Gail and Robyn Lyn. The company also sells women’s loungewear, sleepwear, dresses, sportswear and lingerie.