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Cygne Designs Inc declares Q2 & H1 2006 results
16 Sep '06
3 min read
The increase in sales was offset by decreased non-denim sales. Gross profit for the six months ended July 31, 2006 increased to $14.9 million compared to $0.9 million for the prior year period.
Gross margins increased to 22.6% compared to 9.6% in the prior year period as a result of higher gross margins on sales stemming from the acquisition of product primarily sourced through a supply agreement with DAR for the six months ended July 31, 2006.
Net profit for the six months ended July 31, 2006 was $1,828,000 or $0.07 on a basic and diluted per share basis, compared to a net loss of $617,000 or $0.05 on a basic and diluted per share basis in the comparable prior period in 2005.
Cygne and its factor use EBITDA as a supplemental financial measure to assess the financial performance of its assets without regard to financing methods and capital structure.
EBITDA should not be considered an alternative to net income, operating income and cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP.
EBITDA excludes some items that affect net income and operating income. Since these items may vary among other companies, EBITDA as presented below may not be comparable to similarly titled measures of other companies.
Gross margins increased to 22.6% compared to 9.6% in the prior year period as a result of higher gross margins on sales stemming from the acquisition of product primarily sourced through a supply agreement with DAR for the six months ended July 31, 2006.
Net profit for the six months ended July 31, 2006 was $1,828,000 or $0.07 on a basic and diluted per share basis, compared to a net loss of $617,000 or $0.05 on a basic and diluted per share basis in the comparable prior period in 2005.
Cygne and its factor use EBITDA as a supplemental financial measure to assess the financial performance of its assets without regard to financing methods and capital structure.
EBITDA should not be considered an alternative to net income, operating income and cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP.
EBITDA excludes some items that affect net income and operating income. Since these items may vary among other companies, EBITDA as presented below may not be comparable to similarly titled measures of other companies.
Cygne Designs Inc
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