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STAGE II APPAREL REPORTS THIRD QUARTER, NINE MONTHS RESULTS

      STAGE II APPAREL REPORTS THIRD QUARTER, NINE MONTHS RESULTS
    NEW YORK, Nov. 7 /PRNewswire/ -- Stage II Apparel Corp. (AMEX: SA), one of the nation's largest distributors of popular priced brand-name men's and boys' casual apparel and activewear, today reported financial results for the third quarter and nine months ended Sept. 30, 1991.
    Net income for the nine months was $651,000 or 16 cents per share on net sales of $49,948,000 compared to net income of $356,000 or 8 cents per share on sales of $63,453,000 for the comparable nine months last year, on fewer shares outstanding.  Average number of shares outstanding decreased to 4,064,000 in 1991 from 4,232,000 in 1990 as a result of the company's purchase of treasury stock.
    Net income for the quarter was $510,000 or 13 cents per share on net sales of $20,416,000 compared to net income of $340,000 or 8 cents per share on sales of $23,416,000 for the comparable quarter last year, on fewer shares outstanding.  Average number of shares outstanding decreased to 4,063,000 in 1991 from 4,194,000 in 1990 as a result of the company's purchase of treasury stock.
    Jack Clark, chairman of the board, stated that "profits from operations have doubled and our investment in Creative Design and Graphics is starting to turn around and will shortly show a profit. In addition, bookings for next year's spring season are ahead of this year's spring season at this time last year by 58 percent."
                           STAGE II APPAREL CORP.
                        Condensed Statement of Income
                               (Unaudited)
      Periods ended         Three Months               Nine Months
      Sept. 30            1991         1990         1991         1990
    Net sales         $20,416,000  $23,416,000  $49,948,000  $63,453,000
    Gross profit        4,833,000    5,313,000   11,606,000   14,204,000
    Income before
     income taxes         786,000      486,000      988,000      509,000
    Net income        $   510,000  $   340,000  $   651,000  $   356,000
    Wtd. avg. no. of
     common shares      4,063,000    4,194,000    4,064,000    4,232,000
    Earnings per share       $.13         $.08         $.16         $.08
    -0-                        11/7/91
    /CONTACT:  Philip London, chief financial officer of Stage II Apparel, 516-567-9300/
    (SA) CO:  Stage II Apparel Corp. ST:  New York IN:  REA SU:  ERN GK-TS -- NY016 -- 2093 11/07/91 09:54 EST
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Publication:PR Newswire
Date:Nov 7, 1991
Words:394
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