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NAUTICA ENTERPRISES, INC. ANNOUNCES RECORD 3RD QUARTER RESULTS

 NEW YORK, Dec. 13 /PRNewswire/ -- Nautica Enterprises, Inc. (NASDAQ: NAUT) today announced record results for the third quarter ended Nov. 30, 1993.
 Third quarter 1993 sales were $67,560,000, an increase of 21% over sales of $56,056,000 in the corresponding 1992 quarter. Net earnings for the third quarter of 1993 were $6,622,000 ($.54 per share), an increase in net earnings of 56%, compared to $4,235,000 ($.36 per share as adjusted for a stock split) in the corresponding 1992 quarter.
 For the nine months ended Nov. 30, 1993, sales were $150,165,000, an increase of 32% over sales of $113,777,000 in the corresponding 1992 period. Net earnings for the nine months ended Nov. 30, 1993 were $11,822,000 ($.98 per share), an increase in net earnings of 61%, compared to $7,344,000 ($.63 per share as adjusted for a stock split) in the corresponding prior year period. Net earnings for the nine months ended Nov. 30, 1993 were increased by $826,000 ($.07 per share as adjusted for a stock split) due to life insurance proceeds accrued as a result of the death of the Company's Chairman of the Board on Aug. 17, 1993.
 NAUTICA ENTERPRISES, INC.
 Consolidated Condensed Earnings Summary (Unaudited)(A)
 For the periods Nine Months Three Months
 ended Nov. 30, 1993 1992 1993 1992
 Net sales $150,165,000 $113,777,000 $67,560,000 $56,056,000
 Cost of sales 86,985,000 67,131,000 39,123,000 33,793,000
 Gross profit 63,180,000 46,646,000 28,437,000 22,263,000
 S. G. & A. 44,082,000 34,162,000 16,944,000 14,843,000
 Interest expense-
 net 253,000 166,000 131,000 178,000
 Net royalty income 564,000 455,000 258,000 125,000
 Life insurance
 proceeds 826,000 -- -- --
 Net earnings 11,822,000 7,344,000 6,622,000 4,235,000
 Earnings per
 share .98 .63 .54 .36
 Weighted average
 shares 12,104,219 11,618,652 12,162,670 11,634,880
 (A) -- All share and per share date has been adjusted to reflect a three-for-two stock split effected in the form of a stock dividend to stockholders of record on Nov. 1, 1993.
 -0- 12/13/93
 /CONTACT: Sharon Burd, Controller of Nautica Enterprises, 212-244-1111/
 (NAUT)


CO: Nautica Enterprises, Inc. ST: New York IN: TEX SU: ERN

LG-TW -- NY003 -- 2993 12/13/93 08:05 EST
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Publication:PR Newswire
Date:Dec 13, 1993
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