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TOMMY HILFIGER REPORTS FISCAL 1994 SECOND QUARTER RESULTS

 HONG KONG, Oct. 25 /PRNewswire/ -- Tommy Hilfiger Corporation (NYSE: TOM) today reported results for the second quarter and six months ended September 30, 1993, of its fiscal year ending March 31, 1994.
 For the second quarter ended September 30, 1993, net revenues increased 66.0 percent to $56.1 million, compared to $33.8 million for the same quarter a year ago. Net income rose 75.7 percent to $6.5 million, compared to $3.7 million in the year-earlier period. Earnings per share increased 34.4 percent to $0.43 from $0.32 in the comparable period last year. Tommy Hilfiger Corporation had 15,090,000 shares outstanding on a weighted average basis during the quarter, versus 11,478,000 during the comparable quarter last year.
 The Company opened 45 in-store men's shops during the second quarter. As of September 30, it had 348 in-store men's shops in department stores. During the second quarter the company also began a program of installing fixtured areas for the sale of its boyswear line. As of September 30, 1993, it had 134 fixtured areas in department stores.
 For the six months ended September 30, 1993, net revenues increased 60.3 percent to $96.0 million, from $59.9 million for the same period last year. Net income increased 62.1 percent to $9.4 million, compared to $5.8 million recorded last year. Earnings per share increased 26.0 percent to $0.63 from $0.50 in the comparable period last year. Tommy Hilfiger Corporation had 15,037,000 shares outstanding on a weighted average basis during the six months ended September 30, 1993, versus 11,439,000 during the comparable period last year.
 Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and markets men's sportswear and boyswear under the Tommy Hilfiger trademark. The Company's products are sold in the United States, Canada, Japan, and Central and South America.
 TOMMY HILFIGER CORPORATION
 Selected Financial Information
 (In millions, except per share amounts)
 Three Months Ended Six Months Ended
 September 30, September 30,
 1993 1992 1993 1992
 NET REVENUES $56.1 $33.8 $96.0 $59.9
 INCOME BEFORE INCOME TAXES 10.7 5.9 15.6 9.2
 PROVISION FOR INCOME TAXES 4.2 2.2 6.2 3.4
 NET INCOME $6.5 $3.7 $9.4 $5.8
 EARNINGS PER SHARE $0.43 $0.32 $0.63 $0.50
 AVERAGE NUMBER OF SHARES 15.1 11.5 15.0 11.4
 OUTSTANDING
 FULLY DILUTED EARNINGS $0.41 $0.32 $0.61 $0.50
 PER SHARE
 AVERAGE NUMBER OF SHARES 15.7 11.5 15.6 11.4
 AND SHARE EQUIVALENTS
 OUTSTANDING-FULLY DILUTED BASIS
 TOMMY HILFIGER CORPORATION
 SELECTED FINANCIAL INFORMATION
 BALANCE SHEET DATA
 (in thousands)
 September 30, 1993 March 31, 1993
 Working Capital $57,514 $53,748
 Total Assets 99,285 84,704
 Short-term Debt 9,507 8,068
 Long-term Debt 2,476 ---
 Shareholders' Equity 79,509 68,700
 Notes:
 On September 29, 1992, the Company issued 3,565,000
 ordinary shares in an initial public offering. Net
 proceeds of the offering were approximately $46.9
 million.
 On June 18, 1993, the Company exchanged 125,000 ordinary
 shares with a licensee in connection with the
 cancellation and termination of the Retail Store License
 Agreement.
 Earnings per share for the periods ended September 30,
 1993 and 1992 are based on the weighted average number
 of ordinary shares outstanding, including the 3,565,000
 ordinary shares from the initial public offering and the
 125,000 ordinary shares exchanged with a licensee in
 connection with the cancellation and termination of the
 Retail Store License Agreement for the periods
 subsequent to September 29, 1992 and June 18, 1993,
 respectively. Fully diluted earnings per share are
 based upon the weighted average number of ordinary
 shares and ordinary share equivalents outstanding during
 the applicable periods.
 -0- 10/25/93
 /CONTACT: Joel J. Horowitz, Benjamin M. T. Ng of Tommy Hilfiger U.S.A., Inc., 212-840-8888/
 (TOM)


CO: Tommy Hilfiger Corporation ST: New York IN: TEX SU: ERN

LG -- NY025 -- 6156 10/25/93 09:08 EDT
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Publication:PR Newswire
Date:Oct 25, 1993
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