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OAK HILL SPORTSWEAR CORPORATION REPORTS RESULTS

 NEW YORK, Aug. 16 /PRNewswire/ -- Oak Hill Sportswear Corporation (NASDAQ-NMS: OHSC) announced today that it incurred a loss of $1,196,000 or $.58 per share in the second quarter ended June 30, 1993 compared to a loss of $704,000 or $.34 per share in the same quarter last year, as sales declined 9 percent to $17,201,000. The company had a loss of $1,491,000 or $.72 per share in the six months ended June 30, 1993 compared to a loss of $640,000 or $.31 per share in the comparable period last year on a 16 percent decline in sales.
 Arthur L. Asch, chairman of the board of Oak Hill Sportswear Corporation, stated that "cautious consumer spending patterns in the women's apparel sector continued through the second quarter. As a result, our retail customers restrained and delayed their purchases of spring and summer merchandise. In an effort to reduce inventories to appropriate levels, our company sold substantial quantities of merchandise at marked down prices. The consequences of the resulting lower gross profit margins and sales were partially offset by a significant reduction in expenses that was achieved through our continuing cost cutting efforts.
 Although the retail climate remains challenging and uncertain, we anticipate that our operating results will improve substantially in our seasonally strong third quarter, and that our company will return to profitability for this period."
 Oak Hill Sportswear corporation is a manufacturer of women's apparel.
 OAK HILL SPORTSWEAR
 Operating Results
 (In thousands except per share data)
 Six months Three months
 1993 1992 1993 1992
 Net sales $ 35,170 $ 41,666 $ 17,201 $ 18,957
 Loss before taxes (1,491) (1,032) (1,196) (1,135)
 Net loss (1,491) (640) (1,196) (704)
 Net loss per share (.72) (.31) (.58) (.34)
 Weighted average number of
 outstanding-fully diluted 2,058 2,058 2,058 2,058
 -0- 8/16/93
 /CONTACT: Arthur L. Asch of Oak Hill Sportswear, 212-789-8811/
 (OHSC)


CO: Oak Hill Sportswear Corporation ST: New York IN: TEX SU: ERN

TM-WB -- NY098 -- 3290 08/16/93 17:28 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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