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OAK HILL SPORTSWEAR ANNOUNCES THIRD QUARTER EARNINGS

 NEW YORK, Nov. 8 /PRNewswire/ -- Oak Hill Sportswear Corporation (NASDAQ: OHSC) announced today that net income in the third quarter ended Sept. 30, 1993 increased to $1,594,000, or $.77 per share, compared to net income of $655,000, or $.32 per share, in the third quarter of 1992. Sales for the quarter increased 7 percent to $28,080,000. Net income for the nine months ended Sept. 30, 1993 was $103,000, or $.05 per share, compared to $15,000, or $.01 per share, in the comparable period last year, with sales declining 7 percent for the nine month period.
 Arthur L. Asch, chairman of the board of Oak Hill Sportswear Corporation, stated that "our company's return to profitability in the third quarter and improvement over last year's performance were driven by an increase in sales and a sharp reduction in operating expenses resulting from our successful cost reduction program. This improvement was achieved despite lower gross profit margins created by downward pressure on prices from retailers and a demanding market environment.
 "In light of the uncertainties in the economy and consumer confidence, we intend to manage our company in a conservative fashion with the goals of continued profitability for the balance of 1993 and increased earnings in 1994."
 Oak Hill Sportswear Corporation is a manufacturer of women's apparel.
 OAK HILL SPORTSWEAR CORPORATION
 Operating Results
 (In thousands, except for per-share data)
 Periods ended Nine Months Three Months
 Sept. 30 1993 1992 1993 1992
 Net sales $63,250 $67,970 $28,080 $26,304
 Income before taxes 122 25 1,613 1,057
 Net income 103 15 1,594 655
 Net income per share $.05 $.01 $.77 $.32
 Weighted average number of
 shares outstanding-fully
 diluted 2,058 2,058 2,058 2,058
 -0- 11/8/93
 /CONTACT: Arthur L. Asch of Oak Hill, 212-789-8811/
 (OHSC)


CO: Oak Hill Sportswear Corporation ST: New York IN: TEX SU: ERN

CK-LG -- NY072 -- 1831 11/08/93 13:58 EST
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Publication:PR Newswire
Date:Nov 8, 1993
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