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BERNARD CHAUS, INC. REPORTS RESULTS FOR FOURTH QUARTER AND YEAR ENDED JUNE 30, 1992

 BERNARD CHAUS, INC. REPORTS RESULTS FOR FOURTH QUARTER
 AND YEAR ENDED JUNE 30, 1992
 NEW YORK, Aug. 24 /PRNewswire/ -- Bernard Chaus, Inc. (NYSE: CHS), today reported results for its fourth fiscal quarter and year ended June 30, 1992. The results, as compared to those for the corresponding periods last year, are as follows:
 BERNARD CHAUS, INC.
 Statement of Operating Data
 (Dollars in thousands, except per share data)
 Periods ended Year Quarter
 June 30 1992 1991 1992 1991
 Net sales $254,190 $232,444 $62,114 $61,918
 Cost of goods sold 196,415 192,369 46,647 52,008
 Gross profit 57,775 40,075 15,467 9,910
 Selling, general and
 administrative expenses 50,016 51,600 12,798 12,257
 Total 7,759 (11,525) 2,669 (2,347)
 Interest and other income 472 654 134 343
 Interest expense (2,474) (1,968) (502) (634)
 Inc. (loss) bef. prov. for
 inc. taxes & extraordinary
 item 5,757 (12,839) 2,301 (2,638)
 Prov. (credit) for inc. tax 2,245 (835) 897 5
 Inc. (loss) before extra-
 ordinary item 3,512 (12,004) 1,404 (2,643)
 Extraordinary item:
 Tax benefits from utilization
 of net oper. carryforwards 1,957 -- 782 --
 Net income (loss) 5,469 (12,004) 2,186 (2,643)
 Net income (loss) per share $.30 ($.66) $.12 ($.15)
 Weighted avg. no. of common
 shares outstanding 18,363,245 18,233,840 18,811,793 18,057,708
 Selected Balance Sheet Data
 (Dollars in thousands)
 June 30 1992 1991
 Cash and cash equivalents $24,383 $10,395
 Accounts receivable, net 33,301 38,567
 Inventory 19,877 23,993
 Working capital 51,964 57,397
 Total assets 86,489 82,571
 Total liabilities 43,161 44,888
 Shareholder equity 43,328 37,683
 Josephine Chaus, chairwoman and chief executive officer, said, "We are pleased to report that in spite of the difficult retailing environment, our company was able to continue its trend of profitability that started in the first quarter of fiscal year 1992. Our net income in the fourth quarter ended June 30, 1992, was $2.2 million or $0.12 per share, compared with a loss for the same quarter last year of $2.6 million or ($0.15) per share. For the year ended June 30, 1992, the company earned $5.5 million or $0.30 per share, compared with a loss for the same period last year of $12.0 million or ($0.66) per share." In summary, net income after tax benefits for the year increased by $17.5 million from last year -- a substantial improvement. As a result of this improved performance, the company repaid $5.0 million of its subordinated debt due on July 31, 1992, and extended the maturity of an additional $5.0 million to July 31, 1993.
 Net sales for the fourth quarter were almost the same as last year: $62.1 million this year compared with $61.9 million last year; however, more merchandise was sold at standard selling prices this year. Net sales for the fiscal year increased by 9 percent to $254.2 million from $232.4 million last year. The number of units sold at regular price increased for both the quarter and the year which we believe resulted from our strategy to lower average standard selling prices and increase our market penetration.
 During the fourth quarter we reduced our inventories, built cash balances and ended the year without any direct bank borrowings. Therefore, we are now in a better position to take advantage of opportunities as we enter fiscal year 1993.
 Josephine Chaus also announced that the company launched a new value denim program in the fourth quarter to take advantage of a strong growth area which fits the more casual life styles of the '90s. Shipments have started for the 1992 fall season.
 Bernard Chaus, Inc., is one of the largest producer of updated, moderately priced women's sportswear, sold in major department and specialty stores throughout the United States. Its common stock is listed on the New York Stock Exchange under the symbol CHS.
 -0- 8/24/92
 /CONTACT: Anthony M. Pisano, chief financial officer of Bernard Chaus, Inc., 201-863-4646/
 (CHS) CO: Bernard Chaus, Inc. ST: New York IN: REA SU: ERN


TS-KD -- NY024 -- 2541 08/24/92 11:08 EDT
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Date:Aug 24, 1992
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