Blue Fish Clothing Reports Operating Results for the Six Months Ended June 30, 1997.FRENCHTOWN, N.J.--(BUSINESS WIRE)--Aug. 15, 1997--Blue Fish Clothing Inc. (Chicago Stock Exchange Chicago Stock Exchange (CHX) A major exchange trading only stocks, with 90% of trades taking place on an automated execution system, called MAX. : BLF BLF Busy Lamp Field BLF Bluff BLF British Lung Foundation (UK) BLF Big Lottery Fund (UK) BLF Business Leaders Forum BLF Billboard Liberation Front BLF Builders Labourers Federation ) today reported operating results for the six months ended June 30, 1997. Revenues increased 25% to $7,342,862, compared with revenues of $5,873,896 for the same period in 1996. Income from operations increased to $302,397, compared with income from operations of $115,712 for the same period in 1996. Operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. and interest expense, net were $3,624,425 and $111,669, respectively, compared to $2,942,993 and $94,239, respectively for the same period in 1996. Net income before taxes was $190,728, compared with net income before taxes of $21,473 for the same period in 1996. Net income per share was $.02, compared with pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma net income per share of $.00 for the same period in 1996. Marc Wallach, president and chief executive officer said, "We are very pleased with our growth in revenue, gross margin improvement and the continuing increase in profitability. We are continuing to reduce our operating expenses as a percentage of sales. Our wholesale, retail, and catalogue divisions, and the entire Blue Fish team all contributed to our results." Blue Fish is known for its artisan-produced, hand block-printed clothing, each piece is signed by the artist who created it. Made in the USA, the majority of Blue Fish's styles are made of organically grown cotton. Blue Fish owns and operates four retail stores in Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. , N.M., Austin, Texas, SoHo, 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 and Frenchtown. A fifth store will be opening in Westoprt, Conn. this fall. The clothing is also sold nationally in 500 boutiques and specialty apparel stores including Neiman Marcus Neiman Marcus U.S. department-store chain. It was founded in Dallas, Texas, in 1907 by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband, A.L. Neiman. and Nordstrom. In May 1996, Blue Fish completed a successful direct public offering, selling over 700,000 shares of stock and raising nearly $4 million. Blue Fish shares are now traded exclusively on the Chicago Stock Exchange (symbol BLF). CONTACT: Blue Fish Clothing Inc., Frenchtown Richard E. Swarttz, 908/996-3844 x273 |
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