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Net sales dip in Q2 at Jaclyn Inc
Feb '10
Jaclyn, Inc. reported financial results for the second quarter ended December 31, 2009.

Net sales for the three-month period ended December 31, 2009 were $43,597,000 compared to $49,769,000 a year earlier. The Company reported a second quarter net loss of $153,000, or $.06 per diluted share compared to net earnings of $1,357,000, or $.59 per diluted share, in the second quarter of fiscal 2009.

Financial results for this year's second quarter included stock-based compensation expense totaling $1,623,000 before income taxes ($974,000 after tax, or $.41 per diluted share), relating to a previously announced stock award granted by the Company to one of its executive officers. The net cash impact to the Company of this stock-based compensation was approximately $62,000, after related income tax benefits.

Net sales for the six-month period ended December 31, 2009 were $83,168,000 compared to $81,139,000 for the same period last year. Net earnings for the six-month period ended December 31, 2009 were $186,000, or $.08 per diluted share, compared to net earnings of $862,000, or $.37 per diluted share, in the same six-month period last year.

Financial results for this year's six-month period also included the stock-based compensation noted above ($974,000 after tax, or $.41 per diluted share).

Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premium incentives and related accessories.

Jaclyn Inc

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