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HAGGAR ANNOUNCES THIRD QUARTER RESULTS NET INCOME TO STOCKHOLDERS INCREASES 84 PERCENT

 DALLAS, July 21 /PRNewswire/ -- Haggar Corp. (NASDAQ: HGGR) announced third quarter and nine months results for the period ending June 30, 1993. Net income to common stockholders increased 84 percent for the third quarter and 52 percent for the nine months period compared to 1992.
 The Company reported net income to common stockholders of $2,190,000 on sales of $83,362,000 for the third quarter, compared to net income to common stockholders of $1,193,000 on sales of $81,844,000 during the third quarter in 1992. Earnings per share were $0.26 compared to earnings per share of $0.21 in 1992.
 For the nine months ended June 30, 1993, Haggar reported net income to common stockholders of $9,088,000 on sales of $270,298,000 compared to net income to common stockholders of $5,985,000 on sales of $267,605,000 during the same period in 1992. Earnings per share were $1.17 compared to earnings per share of $1.06 in 1992.
 Haggar's President and Chief Executive Officer J. M. Haggar, III stated, "We are extremely pleased to announce these results to our stockholders. Despite recent industry data which indicates the overall market for sportcoats, suits and dress slacks is down significantly, Haggar has been able to achieve an increase in net sales compared to 1992. With current productivity improvements, a better sourcing mix, and low markdowns, we have been able to translate those sales into meaningful net income."
 Ralph A. Beattie, Haggar's executive vice president and CFO, commented further, "These net results are even more impressive when you consider that the 1992 comparable period contained an after tax gain of approximately $1 million attributable to the sale of two facilities. Excluding this prior year gain, earnings per share for the quarter would have more than doubled."
 In other news, Haggar's board of directors continued the $0.05 per share dividend which was established last quarter. The dividend will be distributed to stockholders of record as of Aug. 2, 1993 and payment will be made Aug. 16, 1993.
 Haggar is a leading designer, manufacturer and marketer of men's apparel. The company for many years has been the number one seller of men's dress slacks and is also the market leader in sales of men's custom-fit suits and sportcoats. Recently, the company successfully launched the exciting Haggar Wrinkle-Free Cottons(tm) which require no ironing right out of the dryer. In addition, the company's product lines include men's casual slacks, shorts and shirts.
 HAGGAR CORP.
 Condensed Consolidated Statements of Income
 (Unaudited, dollars in thousands except for per share amounts)
 Periods ended June 30, Quarter Nine months
 June 30 June 30
 1993 1992 1993 1992
 Net sales $ 83,362 $ 81,844 $270,298 $267,605
 Cost of sales 59,594 60,513 194,085 195,668
 Gross profit 23,768 21,331 76,213 71,937
 Selling, general and
 administrative 21,069 20,106 63,361 61,021
 Operating income 2,699 1,225 12,852 10,916
 Other income 910 2,160 2,338 3,077
 Interest expense (257) (1,039) (1,122) (3,401)
 Net income before income
 tax provision 3,352 2,346 14,068 10,592
 Provision for
 income tax 1,162 873 4,980 3,769
 Net income 2,190 1,473 9,088 6,823
 Less cumulative preferred
 stock dividends 0 (280) 0 (838)
 Net income to
 common stockholders $2,190 $1,193 $9,088 $5,985
 Net income per
 common share and
 common share
 equivalents $0.26 $0.21 $1.17 $1.06
 Pro forma net income per
 common share and common
 share equivalents $0.21 --- $0.98 ---
 Weighted avg. no. of com.
 shares and com. share
 equivalents outstng. 8,516 5,651 7,791 5,651
 HAGGAR CORP.
 Condensed Consolidated Balance Sheets
 (In thousands)
 6/30/93 9/30/92
 (Unaudited) (Audited)
 Assets
 Current assets:
 Cash and cash equivalents $ 19,615 $ 428
 Accounts receivable, net 43,662 63,575
 Inventories 84,090 72,550
 Other current assets 9,918 9,712
 Total current assets 157,285 146,265
 Property, plant and equipment, net 14,229 13,438
 Other assets 10,192 10,780
 Total $ 181,706 $ 170,483
 Liabilities and Stockholder's Equity
 Current liabilities:
 Accounts payable $ 13,510 $ 10,946
 Accrued liabilities 36,096 38,116
 Other current liabilities 380 234
 Total current liabilities 49,986 49,296
 Long term debt 3,821 28,154
 Cumulative preferred stock --- 12,765
 Stockholders' equity 127,899 80,268
 Total $ 181,706 $ 170,483
 -0- 7/21/93
 /CONTACT: Carla Morgan, manager - investor relations of Haggar Corp., 214-956-4611/
 (HGGR)


CO: Haggar Corp. ST: Texas IN: TEX SU: ERN

MP -- NY065 -- 3971 07/21/93 13:12 EDT
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Date:Jul 21, 1993
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