Donnkenny, Inc. Announces Acquisition of Ann Travis.Business Editors NEW YORK--(BUSINESS WIRE)--July 5, 2000 Donnkenny, Inc. (Nasdaq: DNKY) today announced that it has entered into arrangements to acquire the business currently being conducted by Ann Travis, Inc. Daniel H. Levy, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Company, stated that the Company is very excited about its plans to distribute women's large sizes apparel under the Delta Burke label. Mr. Levy commented that this was an exciting step for Donnkenny. After over three years of rebuilding Donnkenny and recently completing significant cost reductions and efficiency changes, Donnkenny is embarking on a program to build its core businesses and pursue a further growth program through strategic acquisitions. Mr. Levy added that while the growth program would start off with modest objectives, it signals a positive change in the Company's direction. Mr. Levy noted that the Ann Travis acquisition would be accretive to earnings within the first six months since Donnkenny's existing back office and sales support could handle much of the increased Ann Travis business. Mitch The name Mitch can mean:
Donnkenny designs, manufactures, imports and markets a broad line of women's sportswear. The Company's major labels include Victoria Jones(R), Casey & Max(R), Pierre Cardin
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include a softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. of retailer or consumer acceptance of the Company's products or pricing pressures and other competitive factors. These and other risks are more fully described in the Company's 10-K and 10-Q filings with the Securities and Exchange Commission. |
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