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SWANK, INC. REPORTS RESULTS FOR SECOND QUARTER AND SIX MONTHS

 SWANK, INC. REPORTS RESULTS FOR SECOND QUARTER AND SIX MONTHS
 ATTLEBORO, Mass., Aug. 3 /PRNewswire/ -- Marshall Tulin, president of Swank, Inc. (NASDAQ: SNKI) today reported sales and earnings for the second quarter and six months ended June 30, 1992.
 Tulin indicated that results for the second quarter ended June 30, 1992 included a gain on the sale of the Royal Copenhagen Fragrance Division of approximately $1.7 million. He further indicated that margins for the six month period were affected positively by a favorable sales mix, improved inventory, management and lower interest expense.
 Tulin stated that, as a result of recent showings of the various collections, "we feel confident that the improvements reported herein will continue throughout the forthcoming holiday period."
 Swank manufactures and markets men's and women's jewelry, belts, personal leather goods, and gift items. The company distributes its products to retail outlets throughout the United States and in 50 foreign countries. These products which are known throughout the world, are distributed under the names "Swank," "Colours by Alexander Julian," "Pierre Cardin," "L'Aiglon," "Anne Klein," "Anne Klein II," "Nautica," "Richard Scott," and "90 Park," among others. Swank Inc. also manufactures jewelry and leather items for distribution under private label.
 SWANK INC.
 Financial Results
 (In Thousands)
 Three Months Ended Six Months Ended
 June 30 June 30
 1992 1991 1992 1991
 Net sales $23,726 $23,214 $46,068 $46,692
 Income (loss)
 before income
 tax 208 (3,007) (24) (3,263)
 Net income (loss) 204 (3,023) (36) (3,281)
 Net income (loss)
 per share 1 cent (19 cents) ($.00) (20 cents)
 Weighted average common
 shares and common
 stock equivalents
 outstanding 16,909,856 16,304,971 16,378,028 16,304,971
 -0- 8/3/92
 /CONTACT: A.C. Corsini of Swank, Inc., 508-222-3400/
 (SNKI) CO: Swank Inc. ST: Massachusetts IN: REA SU: ERN


DH -- NE006 -- 6210 08/03/92 13:40 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
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