HAMPTON INDUSTRIES REPORTS RESULTS
HAMPTON INDUSTRIES REPORTS RESULTS KINSTON, N.C., May 5 /PRNewswire/ -- Hampton Industries, Inc.
(AMEX: HAI) reported a substantial improvement in operating results for the first quarter of fiscal 1992. The Company earned $489,000, or $.13 per share, on record first quarter sales of $43,627,000. In the first quarter of 1991, the Company incurred a loss of $147,000, or $.04 per share, on sales of $32,500,000.
David Fuchs, Chairman and Chief Executive Officer of Hampton, stated that most of the Company's product lines contributed to the sales growth. New merchandising strategies, which include the development and promotion of various nationally recognized tradenames, resulted in increased gross margins. Further improvements are expected to be achieved as domestic production levels improve over the next several quarters. Operating expenses increased over those of the prior year primarily because of the inclusion of development and staffing expenses related to the Kenbridge branded apparel division, which was acquired in May 1991. Fuchs stated that the Company was on target with its internal projections for the quarter and that he expected the Company to achieve record sales and earnings in 1992. As of May 1, 1992, Hampton's advance order position totaled approximately $127,000,000 as compared to $87,500,000 last year. Thirteen Weeks Ended March 28, 1992 March 30, 1991 Net Sales $43,627,000 $32,500,000 Net Earnings (Loss) $ 489,000 $ (147,000) Earnings (Loss) per share $ .13 $ (.04) Average shares outstanding 3,790,098 3,790,098 -0- 5/5/92 /CONTACT: David Fuchs, Chairman and Chief Executive Officer, Hampton Industries, Inc., 212-563-1010/ (HAI) CO: Hampton Industries, Inc. ST: North Carolina IN: TEX SU: ERN
CM -- CH007 -- 6633 05/05/92 14:13 EDT
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|Date:||May 5, 1992|
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