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SANMARK-STARDUST REPORTS FISCAL 1992 RESULTS

 SANMARK-STARDUST REPORTS FISCAL 1992 RESULTS
 NEW YORK, Sept. 25 /PRNewswire/ -- Sanmark-Stardust Inc. (AMEX: SMK)


today reported results for the fourth quarter and fiscal year ended June 30, 1992.
 For the fourth quarter ended June 30, 1992, sales amounted to $22,517,000, vs. sales of $26,014,000 during the fourth quarter of fiscal 1991. During the recently ended fourth quarter the company incurred a net loss of $877,000, or $.06 per share, compared to net income of $101,000, or $.01 per share, in the same period a year ago.
 For the fiscal year ended June 30, 1992, sales totaled $117,684,000, compared to sales of $120,644,000 during the 1991 fiscal year. Net income during the recently ended fiscal year amounted to $327,000, or $.02 per share, vs. net income of $1,193,000, or $.08 per share, in the prior fiscal year.
 Commenting on the results, Mark M. David, chairman of Sanmark- Stardust, said, "The decrease in net income from fiscal 1991's level was largely the result of our domestic plants operating below capacity and a corresponding inability to absorb fixed manufacturing overhead costs. This reduction in domestic plant activity reflects our slower sales activity, particularly in the second half of the year, coupled with the increased use of imports and offshore facilities.
 "While our domestic plants did operate below capacity in fiscal 1992, it is important to note that we have worked hard to eliminate as much excess capacity as is practical. Certain plant operations were combined, relocated or closed during the fiscal year in an effort to achieve operating production efficiencies in future periods. In addition, had we not taken such action, the company would have likely sustained substantial losses during the past fiscal year.
 "As we move forward into the new fiscal year," David added, "we do so with an organization that has more efficient operations and greater flexibility. Based on current indications, we remain optimistic about our prospects for fiscal 1993."
 Sanmark-Stardust Inc. designs, manufactures, markets and sells an extensive line of ladies sleepwear, robes, leisurewear, loungewear, panties and daywear; men's work and leisure shirts; children's clothing; and also operates 25 retail outlet stores.
 SANMARK-STARDUST INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 For The Three Months Ended June 30,
 1992 1991
 NET SALES $ 22,517,000 $ 26,014,000
 NET (LOSS) INCOME $ (877,000) $ 101,000
 NET (LOSS) INCOME PER SHARE $(.06) $.01
 WEIGHTED AVERAGE SHARES OUTSTANDING 14,408,000 14,721,000
 For The Fiscal Year Ended June 30,
 1992 1991
 NET SALES $117,684,000 $120,644,000
 NET INCOME $ 327,000 $ 1,193,000
 NET INCOME PER SHARE $ .02 $.08
 WEIGHTED AVERAGE SHARES OUTSTANDING 14,470,000 14,993,000
 -0- 9/25/92
 /CONTACT: Saul Pomerantz of Sanmark-Stardust, 212-679-7260; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for Sanmark-Stardust/ CO: Sanmark-Stardust Inc. ST: New York IN: TEX SU: ERN


JB-AW -- FL001 -- 3438 09/25/92 10:28 EDT
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Date:Sep 25, 1992
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