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HOWARD B. WOLF, INC. ANNOUNCES RESULTS

 DALLAS, July 22 /PRNewswire/ -- Howard B. Wolf, Inc. (AMEX: HBW) Dallas based women's fashion manufacturer, reported net sales for the fiscal year ended May 31, 1993 of $12,938,206 and net income of $708,165, or $.67 per share. Results for the 1992 fiscal year were net sales of $10,778,672 and net income of $435,194, or $.41 per share.
 Net sales for the fourth quarter ended May 31, 1993 were $3,348,658 with net income of $183,943, or $.17 per share. For the comparable quarter ended May 31, 1992, net sales were $2,762,215 with net income of $113,944 or $.11 per share.
 The board of directors increased the quarterly dividend from $.06 to $.07 per share, payable August 27, 1993 to shareholders of record on August 3, 1993.
 HOWARD B. WOLF, INC.
 Fiscal Year Ended May 31, 1993
 1993 1992
 Net sales $12,938,206 $10,778,672
 Income before federal income tax
 and change in accounting principles $ 1,100,507 $ 740,320
 Income before change in accounting
 principles $ 708,165 $ 468,194
 Cumulative effect of change
 in accounting for income taxes --- (33,000)
 Net income $ 708,165 $ 435,194
 Income per share:
 Income before change in accounting
 principles $.67 $.44
 Cumulative effect of change in
 accounting for income taxes --- (.03)
 $.67 $.41
 Average number of shares outstanding 1,056,191 1,056,191
 Three Months Ended
 May 31, 1993
 1993 1992
 Net sales $ 3,348,658 $ 2,762,215
 Income before federal income tax
 and change in accounting principles $ 288,686 $ 215,433
 Income before change in accounting
 principles $ 183,943 $ 146,944
 Cumulative effect of change
 in accounting for income taxes --- (33,000)
 Net income $ 183,943 $ 113,944
 Income per share:
 Income before change in accounting
 principles $.17 $.14
 Cumulative effect of change in
 accounting for income taxes --- (.03)
 $.17 $.11
 Average number of shares outstanding 1,056,191 1,056,191
 -0- 7/22/93
 /CONTACT: Eugene K. Friesen of Howard B. Wolf, Inc., 214-823-9941/
 (HBW)


CO: Howard B. Wolf, Inc. ST: Texas IN: TEX SU: ERN

MP -- NY097 -- 4769 07/22/93 16:40 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
Words:359
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