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THE HE-RO GROUP REPORT RESULTS

 NEW YORK, April 15 /PRNewswire/ -- The He-Ro Group, Ltd. (NYSE: HRG) announced sales and earnings for the nine months ended Feb. 28, 1993.
 Net sales for the third quarter increased to $29,074,000 from $26,336,000 for the comparable quarter last year. Net loss for the third quarter increased to $(2,195,000) from $(428,000) in the same period last year. Net loss per share was $(0.33) based on a weighted average of 6,717,000 share outstanding as compared to $(0.06) for the comparable quarter last year.
 Net sales for the nine months ended Feb. 28, 1993 increased to $126,712,000 from $102,311,000 for the comparable nine month period last year. Net income for the first nine months decreased to $1,072,000 from $7,017,000 in the same period last year. Net income per share was $0.16 based on a weighted average of 6,717,000 shares outstanding as compared to $1.19 per share, based on weighted average shares outstanding of 5,897,000, for the comparable nine months last year. Earnings per share for the first nine months of fiscal 1993 reflect an increase in the number of weighted average common shares outstanding due to the completion of the company's initial public offering in September 1991.
 The He-Ro Group, Ltd. produces and markets a variety of women's apparel under private, proprietary, and licensed designer labels. These labels include "Oleg Cassini," "Bill Blass," "Bob Mackie Boutique," "J.G. Hook" and "Oscar de la Renta Studio."
 HE-RO GROUP
 Financial Highlights
 (In thousands, except per share data -- unaudited)
 Three Months Nine Months
 2/28/93 2/29/92 2/28/93 2/29/92
 Net sales $29,074 $26,336 $126,712 $102,331
 Cost of sales 21,092 16,463 87,328 59,681
 Gross profit 7,982 9,873 39,384 42,630
 SG&A expenses 11,672 10,423 37,660 30,034
 Income (loss) from
 operations (3,690) (550) 1,724 12,596
 Interest expense 605 319 1,892 1,698
 Income (loss)
 before pro forma
 income taxes (4,295) (869) (168) 10,898
 Pro forma income taxes (2,100) (441) (1,240) 3,881
 Pro forma net
 income (loss) (2,195) (428) 1,072 7,017
 Pro forma net
 income (loss)
 per common share $(0.33) $(0.06) $ 0.16 $ 1.19
 Weighted average
 shares outstanding 6,717 6,717 6,717 5,897
 -0- 4/15/93
 /CONTACT: Richard Woolwine, executive vice president of The He-Ro Group, Ltd., 201-601-5641/
 (HRG)


CO: He-Ro Group, Ltd. ST: New Jersey IN: TEX SU: ERN

TM-SM -- NY003 -- 6006 04/15/93 08:01 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
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