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MUNSINGWEAR REPORTS THIRD QUARTER LOSS

 MINNEAPOLIS, Oct. 22 /PRNewswire/ -- Munsingwear, Inc. (NYSE: MUN) today reported total revenues of $7,679,000 and a net loss of $927,000 ($0.44/share) for the quarter ended Oct. 2, 1993. Last year for the same period, total revenues were $8,710,000 and net income was $22,000 ($0.01/share). For the nine months ended Oct. 2, 1993, total revenues were $31,660,000 and net income was $363,000 ($0.17/share). This compares to revenues of $31,065,000 and net income of $1,191,000 ($0.57/share) for the same period last year.
 Roger W. Meyer, executive vice president, indicated that, "The third quarter, which is historically our weakest quarter, presented especially difficult situations this year. Orders were soft due to flooding in the Midwest and the continued sluggishness at retail. In addition, manufacturing costs and selling, general and administrative expenses were disproportionately high as compared to revenues due to lower sales."
 Meyer indicated that "management projects that the fourth quarter will be profitable, but earnings will not likely be sufficient to reach last year's total year results when the company reported earnings of $1,241,000 ($0.59/share). However, we are positive about the company's long term prospects, and demand for our Spring 1994 offering is good."
 Munsingwear, Inc., a Minneapolis-based company, designs, manufactures, markets, and licenses branded men's and boys' apparel under the Grand Slam(R), Grand Slam Tour(TM), Munsingwear(R), Northwestern Knitting Co.(TM), Penguin Sport(TM) and Penguin Club(TM) labels.
 MUNSINGWEAR, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (Amounts unaudited and in thousands, except per share data)
 Three Months Ended Nine Months Ended
 10/2/93 10/3/92 10/2/93 10/3/92
 Revenues:
 Net sales $6,852 $8,073 $28,997 $29,502
 Royalties 827 637 2,663 1,563
 -- 7,679 8,710 31,660 31,065
 Expenses:
 Cost of goods sold 6,072 6,113 21,739 20,856
 Selling, general and
 administrative 2,983 2,424 8,941 7,977
 -- 9,055 8,537 30,680 28,833
 Operating income
 (loss) (1,376) 173 980 2,232
 Interest expense, net (53) (96) (184) (300)
 Other -- -- 9 37
 Income (loss)
 before taxes (1,429) 77 805 1,969
 Provision for
 income taxes (502) 55 442 778
 Net income (loss) ($927) $22 $363 $1,191
 Net income (loss)
 per common share ($0.44) $0.01 $0.17 $0.57
 Weighted average
 number of shares
 of common stock 2,108 2,092 2,098 2,092
 -0- 10/22/93
 /CONTACT: James S. Bury, vice president - controller, of Munsingwear, 612-943-5000 or 612-943-5034, or fax 612-943-5052/
 (MUN)


CO: Munsingwear, Inc. ST: Minnesota IN: REA SU: ERN

CP-AL -- MN021 -- 5959 10/22/93 18:01 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
Words:463
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