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/C O R R E C T I O N -- MUNSINGWEAR/

 /C O R R E C T I O N -- MUNSINGWEAR/
 In NY144, Munsingwear Third Quarter Revenue, moved yesterday, the


tabular material for Income from continuing operations before discontinued operations for Nine Months Ended 10/5/91 should read "$(1,797)" rather than "$(1,707)" as originally transmitted. The corrected release follows:
 THIRD QUARTER REVENUE & PROFITS UP AT MUNSINGWEAR
 MINNEAPOLIS, Oct. 22 /PRNewswire/ -- Munsingwear, Inc. (NYSE: MUN) today reported total revenues of $8,710,000 and net income of $22,000 ($0.01/share) for the quarter ended Oct. 3, 1992. Last year for the same period, total revenues were $7,625,000 and net losses were $717,000.
 For the nine months ended Oct. 3, 1992, total revenues were $31,065,000 and net income was $1,191,000 ($0.57/share). This compares to revenues of $28,931,000 and net income of $130,000 for the same period last year. A comparison of 1991 earnings per share is not meaningful because of the company's reorganization.
 Charles J. Campbell, president and chief executive officer stated "Although third quarter bottom-line results are modest, we have now put together three successive profitable quarters in 1992. The 14 percent increase in revenues was the result of broadened distribution, product line diversification and a substantial increase in licensing income." Mr. Campbell also stated that he was confident that the company would exceed its revenue and profit goals for 1992 "now that the historically difficult third quarter is behind us."
 Munsingwear, Inc., a Minneapolis-based company, designs, manufactures, markets and licenses branded men's and boy's apparel under the Grand Slam(R), Grand Slam Tour(TM), Munsingwear(R), Penguin Sport(TM) and Penguin Club(TM) labels.
 MUNSINGWEAR, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (Amounts unaudited and in thousands, except per share data)
 Reorganized Predecessor Reorganized Predecessor
 Company Company Company Company
 Three months ended Nine months ended
 10/3/92 10/5/91 10/3/92 10/5/91
 Revenues:
 Net sales $8,073 $7,377 $29,502 $28,174
 Royalties 637 248 1,563 757
 Total 8,710 7,625 31,065 28,931
 Expenses:
 Cost of goods sold 6,113 5,981 20,856 20,467
 Selling, general and
 administrative 2,424 2,218 7,977 7,420
 Total 8,537 8,199 28,833 27,887
 Operating income 173 (574) 2,232 1,044
 Interest expense, net (96) (8) (300) (1,522)
 Other 0 50 37 608
 Income from continuing
 operations before reorg-
 anization items, income
 taxes and discontinued
 operations 77 (532) 1,969 130
 Reorganization items --- (156) --- (1,841)
 Total 77 (688) 1,969 (1,711)
 Income tax expense 55 29 778 86
 Income from continuing
 operations before
 discontinued operations 22 (717) 1,191 (1,797)
 Discontinued operations --- --- --- 1,927
 Net income $22 $(717) $1,191 $130
 Earnings per common
 share $0.01 (A) $0.57 (A)
 Weighted average number
 of shares of common
 stock 2,092 (A) 2,092 (A)
 (A) Earnings per common share and number of shares for the predecessor company are not meaningful.
 -0- 10/22/92
 /CONTACT: James S. Bury, vice president-controller of Munsingwear Inc., 612-943-5034/
 (MUN) CO: Munsingwear ST: Minnesota IN: REA SU: ERN


DS -- MN016 -- 4378 10/23/92 17:37 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 23, 1992
Words:539
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