DYNAMIC CLASSICS ANNOUNCES SECOND QUARTER RESULTS
DYNAMIC CLASSICS ANNOUNCES SECOND QUARTER RESULTS NEW YORK, Jan. 8 /PRNewswire/ -- Dynamic Classics, Ltd.
(NASDAQ: DYNC) today announced results for the three and six month periods ended Oct. 31, 1991. For the six month period sales increased $2,734,919 from $14,427,312 to $17,162,231 an increase of 18.9 percent. Sales for the three month period increased $678,900 from $10,000,596 to $10,679,496 an increase of 6.7 percent.
For the six months net income was $606,970 or $.35 per share compared to $536,371 or $.31 per share. This represents a $.04 per share or 11.4 percent increase. For the three months net income decreased $73,921 to $549,715 from $623,638 a decrease of $.04 per share or 11.8 percent. Marvin Cooper, president, Dynamic Classics, Ltd., stated that "gross margins in the second quarter decreased due to the company's revenue mix changing with lower margin items contributing a greater percentage of the total." He also stated that although the company is pleased with its six month results, especially the increase in revenues, earnings, working capital and cash, it continues to pursue several major sales programs. He also stressed that the company's second quarter has traditionally been its best quarter. Dynamic Classics, Ltd., designs, imports and distributes exercise equipment, luggage and sports bags, and mens gifts. DYNAMIC CLASSICS, LTD. Quarter to Oct. 31 1991 1990 Sales 10,679,496 10,000,596 Net income 549,715 623,636 Share earnings .32 .36 Six month revenue 17,162,231 14,427,312 Net Income 606,970 536,371 -0- 1/8/92 /CONTACT: Robert Long of Dynamic Classics, Ltd., 201-467-0359/ (DYNC) CO: Dynamic Classics, Ltd. ST: New York IN: SU: ERN
KD-KW -- NY107 -- 7907 01/08/92 15:28 EST
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|Date:||Jan 8, 1992|
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