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OAK HILL SPORTSWEAR REPORTS EARNINGS

 OAK HILL SPORTSWEAR REPORTS EARNINGS
 NEW YORK, Aug. 6 /PRNewswire/ -- Oak Hill Sportswear Corporation


(NASDAQ-NMS: OHSC) announced today that it incurred a loss of $704,000 or 34 cents per share in the second quarter ended June 30, 1992, compared to a loss of $374,000 or 18 cents per share in the same quarter last year, as sales declined 5 percent to $18,957,000. The company had a loss of $640,000 or 31 cents per share in the six months ended June 30, 1992, compared to a loss of $680,000 or 33 cents per share in the comparable period last year on a 2 percent decline in sales.
 Arthur L. Asch, chairman of the board of Oak Hill Sportswear Corporation, stated that "while there has been a general improvement in the economy, consumers have remained very cautious in their spending patterns. In this environment, business was soft in the second quarter, as the retail segment of the market continued its lackluster performance. Our gross profit margins were sharply reduced as we sold significant quantities of merchandise at lower-than-usual prices in an attempt to keep inventories in line with current sales trends. In response to the slower demand and severe price competition which characterized the marketplace in the second quarter, we made progress beyond the goals of our cost containment program which resulted in reduced operating expenses for the period.
 Although the retail climate remains uncertain and challenging, we anticipate that our operating results will improve substantially in our normally seasonally strong third quarter, and that our company will return to profitability in this period."
 Oak Hill Sportswear Corporation is a manufacturer of women's apparel.
 OAK HILL SPORTSWEAR CORPORATION
 Operating Results
 (In thousands, except per-share data)
 Periods ended Six months Three months
 June 30, 1992 1991 1992 1991
 Net sales $41,666 $42,649 $18,957 $19,942
 Loss before taxes (1,032) (1,096) (1,135) (602)
 Net loss (640) (680) (704) (374)
 Net loss per share $(.31) $(.33) $(.34) $(.18)
 Wtd. avg. number of shares
 outstg. fully diluted 2,058 2,058 2,058 2,058
 -0- 8/6/92
 /CONTACT: Arthur L. Asch of Oak Hill Sportswear, 212-789-8811/
 (OHSC) CO: Oak Hill Sportswear Corporation ST: New York IN: REA SU: ERN


CK-SH -- NY023 -- 7489 08/06/92 10:10 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
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