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GITANO PROJECTS SALES FOR SECOND QUARTER

 GITANO PROJECTS SALES FOR SECOND QUARTER
 NEW YORK, June 24 /PRNewswire/ -- Haim Dabah, president and chief


operating officer of The Gitano Group Inc. (NYSE: GIT), said today, "While it is too early to know exactly what our final numbers will be, based upon preliminary indications, we expect that our sales for the second quarter ending June 30, 1992, will be approximately $200 million and that our earnings from operations (income before interest expense and taxes) should be approximately $1.5 million, more than double the operating earnings we reported in the second quarter of last year." Dabah cautioned, however, that an increase in interest expenses and any charges associated with the company's restructuring will result in a loss for the quarter.
 Dabah also said that Gitano's lending groups were currently in discussions regarding a joint lending facility to cover Gitano's world- wide operations. The company believes that this matter will be resolved shortly, although no assurance can be given to that effect.
 -0- 6/24/92
 /CONTACT: Haim Dabah, president and chief operating officer of Gitano, 212-819-0707/
 (GIT) CO: Gitano Group Inc. ST: New Jersey IN: TEX SU:


PS -- NY060 -- 3412 06/24/92 15:46 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 24, 1992
Words:197
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