CHIC by H.I.S. announces 1996 third quarter results.NEW YORK--(BUSINESS WIRE)--Sept. 13, 1996--CHIC by H.I.S. Inc. (NYSE NYSE See: New York Stock Exchange : JNS JNS Journal of Neurosurgery JNS Jump If No Sign JNS Narssaq, Greenland (Airport Code) JNS Journal of Neoplatonic Studies JNS Justification for New Start ) today reported that net income for the third quarter ended Aug. 3, 1996 was $2,281,000 or $0.23 per share. Net income for the third quarter last year was $2,038,000 or $0.21 per share.
Financial table quarter ended Aug. 3:
1996 1995
Net sales 90,185,000 117,023,000
Gross profit 17,544,000 20,586,000
Add:
Licensing income 1,495,000 1,746,000
Less:
Sell, gen. & admin. expenses 13,770,000 17,331,000
Operating income 5,269,000 5,001,000
Less:
Interest expense 1,692,000 1,712,000
Pretax income 3,577,000 3,289,000
Less:
Taxes 1,296,000 1,251,000
Net income 2,281,000 2,038,000
Outstanding Shares 9,753,868 9,753,868
E.P.S. - Net income $0.23 $0.21
Financial table for the 39 weeks ended Aug. 3:
1996 1995
Net sales 245,358,000 300,735,000
Gross profit 52,247,000 58,577,000
Add:
Licensing income 4,393,000 4,270,000
Less:
Sell, gen. & admin. expenses 43,564,000 48,900,000
Restructuring Charge 15,000,000 0
Operating income(Loss) (1,924,000) 13,947,000
Less:
Interest expense 5,173,000 4,299,000
Pretax income(Loss) (7,097,000) 9,648,000
Less:
Taxes 3,719,000 3,811,000
Net income(Loss) (10,816,000) 5,837,000
Outstanding Shares 9,753,868 9,753,868
E.P.S. - Before restructuring charge $0.43 $0.60
E.P.S. - Net income(Loss) ($1.11) $0.60
CONTACT: CHIC by H.I.S., 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 John Chin, 212/302-6400 |
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