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ANDOVER TOGS INC. REPORTS THIRD QUARTER RESULTS

 NEW YORK, Oct. 12 /PRNewswire/ -- Andover Togs Inc. (NASDAQ: ATOG) announced today net earnings of $512,000, or $.12 per share, on revenue of $29,947,000 for the third quarter ended Aug. 31, 1993. This compares to net earnings of $689,000, or $.16 per share, on revenue of $28,456,000 for the third quarter of fiscal 1992.
 "Exclusive of the ladies division which has been phased out, Andover's sales increased by nearly 10 percent compared to last year's third quarter as a result of improved overall sales and the shipment of certain orders postponed in the second quarter," said Chairman and President William L. Cohen.
 Cohen said that gross margin in the third quarter continued to be affected by reduced manufacturing efficiencies, higher medical and workers compensation insurance costs and continued pricing pressure.
 For the nine months ended Aug. 31, 1993, Andover reported net earnings of $112,000, or $.03 per share, compared to net earnings of $1,201,000, or $.27 per share, for the same period last year. Revenue was $64,836,000 compared to $67,201,000 for the same period a year earlier.
 Andover Togs Inc. manufactures children's apparel. The company currently has a licensing agreement with Sasson(R) for children's wear products.
 ANDOVER TOGS INC. AND SUBSIDIARIES
 Summary Of Operations
 (In $000s except per share results)
 Three Months Ended
 Aug. 31,
 1993 1992
 Net sales $29,947 $28,456
 Earnings before
 provision for
 income taxes 930 1,185
 Net earnings 512 689
 Net earnings per
 common share .12 .16
 Weighted average
 common shares
 outstanding 4,385,800 4,398,000
 Nine Months Ended
 Aug. 31,
 1993 1992
 Net sales $64,836 $67,201
 Earnings before
 provision for
 income taxes 247 2,109
 Net earnings 112 1,201
 Net earnings per
 common share .03 .27
 Weighted Average
 common shares
 outstanding 4,376,600 4,397,500
 -0- 10/12/93
 /CONTACT: Alan Kanis, Treasurer, 212-244-0700/
 (ATOG)


CO: Andover Togs Inc. ST: New York IN: TEX SU: ERN

EH-MF -- LA021 -- 1108 10/12/93 12:37 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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