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BERNARD CHAUS REPORTS RESULTS FOR FIRST QUARTER ENDED SEPT. 30, 1991

BERNARD CHAUS REPORTS RESULTS FOR FIRST QUARTER ENDED SEPT. 30, 1991
 NEW YORK, Nov. 4 /PRNewswire/ -- Bernard Chaus, Inc. (NYSE: CHS), today reported results for its first fiscal quarter ended Sept. 30, 1991. The results, as compared to those for the corresponding period last year, are as follows:
 BERNARD CHAUS, INC.
 Statement of Operating Data
 (Dollars in thousands, except per share data)
 Quarter ended Sept. 30: 1991 1990
 Net sales $60,152 $57,318
 Cost of goods sold 46,513 43,746
 Gross profit 13,639 13,572
 SG&A expenses 12,348 12,758
 Total 1,291 814
 Interest and other income 41 95
 Interest expense (641) (425)
 Income before provision for income
 taxes & extraordinary item 691 484
 Provision for income taxes 270 189
 Income before extraordinary item 421 295
 Extraordinary item:
 Tax benefits from utilization
 of net operating loss carryforwards 235 --
 Net income 656 295
 Net income per common share $0.04 $0.02
 Weighted average number of
 common shares outstanding 18,058,000 18,653,000
 Selected Balance Sheet Data
 (Dollars in thousands)
 Sept. 30. 1991 1990
 Cash & cash equivalents $12,934 $12,595
 Accounts receivable, net 40,773 40,915
 Inventory 30,501 25,581
 Working capital 48,105 60,017
 Total assets 93,364 88,025
 Total liabilities 55,021 37,044
 Stockholders equity 38,343 50,981
 Josephine Chaus, chairman and chief executive officer, said, "We are pleased to report that the company has returned to profitability in the first quarter of its fiscal year ending June 30, 1992. For the quarter ended Sept. 30, 1991, net income was $656,000 or 4 cents per share compared with net income of $295,000 or 2 cents per share for the same quarter last year. Net sales for the current quarter increased by 5 percent to $60.2 million from $57.3 million last year. The increase in net sales resulted primarily from an increase in the number of units sold and a decrease in returns, discounts and allowances."
 "A key factor in the improved performance was our strategy to lower our average selling prices starting with our fall season merchandise in order to provide the consumer greater value. We were able to do this by changing our product sourcing mix to lower manufacturing costs and intensifying our efforts to improve product quality and styling."
 "During the first quarter we continued to build our new management team. John Burden, former vice chairman of Federated Department Stores, was elected to our board of directors and became a consultant to the company to help us with our future strategies and organizational development. More recently, Steve Powers, formerly senior vice president of J.W. Robinson, a division of May Department Stores, joined the company as president of the Chaus and Chaus Sports divisions. Susan Davidson was assigned the role of corporate senior vice president of marketing and store planning for both international and domestic sales. We believe that these changes and additions will add new capabilities and dimension to our leadership, give us added insight into our market place and better assure our future success."
 Bernard Chaus, Inc. is one of the largest producers of updated, moderately priced women's sportswear, sold in major department and speciality stores throughout the United States.
 -0- 11/4/91
 /CONTACT: Anthony M. Pisano of Bernard Chaus, 201-863-4646/
 (CHS) CO: Bernard Chaus Inc. ST: New York IN: REA SU: ERN SM-TS -- NY017 -- 0629 11/04/91 10:08 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 4, 1991
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