Andover Togs Inc. reports second quarter results.NEW YORK--(BUSINESS WIRE)--July 14, 1995-- Andover Andover (ăn`dōvər), town (1990 pop. 29,151), Essex co., NE Mass.; inc. 1646. Chiefly a textile producer in the 19th cent., Andover now makes toiletries, electronic and computer equipment, chemicals, medical instruments, rubber products, Togs Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATOG ATOG Abnormal Transient Operational Guideline ATOG Allowable Take Off Gross (Weight) ) Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant announced that revenue for the second quarter ended May 31, 1995, increased 19% to $18,751,000 from $15,724,000 last year. The net loss was $231,000, or $.05 per share, compared with net income of $15,000 for second quarter of fiscal 1994. For the six months ended May 31, 1995, revenue increased 25% to $33,767,000 compared with $26,951,000 a year earlier. The net loss for the first half of fiscal 1995 was $598,000, or $.14 per share, compared with a net loss of $757,000, or $.17 per share, for the same period last year. A company spokesman noted that the increase in second quarter sales was due to the Dobie acquisition, which was completed on February February: see month. 27, 1995. He added that pricing pressures remain intense throughout the apparel industry and that the company has not been able to pass through cost increases to its customers. In addition, he said the company has accepted business at lower margins in order to maintain market share. Andover Togs manufactures children's and women's apparel.
ANDOVER TOGS INC. AND SUBSIDIARIES
Summary Of Operations (Unaudited)
(in $000's except per share results)
Three Months Ended Six Months Ended
May 31 May 31
1995 1994 1995 1994
Net sales $ 18,751 $ 15,724 $ 33,767 $ 26,951 (Loss) earnings before (benefit) provisions for income taxes (341) 97 (881) (1,262) Net (loss) earnings (231) 15 (598) (757) Net loss earnings per common share $ (.05) $ -- $ (.14) $ (.17) Weighted average common shares outstanding 4,458,300 4,358,300 4,410,000 4,385,300 CONTACT: Andover Togs Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Alan A`lan´ n. 1. A wolfhound. Kanis, 212/244-0700 |
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