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Bernard Chaus reports Q2 results
01
Feb '08
Bernard Chaus Inc reported its financial results for the second quarter and first half of fiscal year 2008.

For the second quarter ended December 31, 2007, revenues were $25.4 million compared to $39.4 million in the second quarter last year. The Company's net loss for the second quarter of fiscal 2008 was $4.4 million, or $0.12 per diluted share on a weighted average of approximately 37.4 million shares outstanding, compared to net income of $1.3 million, or $0.03 per diluted share on a weighted average of approximately 38.0 million shares outstanding, in the second quarter of fiscal year 2007.

For the six months ended December 31, 2007, revenues were $60.9 million compared to $78.9 million in the same period of fiscal year 2007. The Company's net loss for the six-month period of fiscal 2008 was $4.7 million, or $0.13 per diluted share on a weighted average of approximately 37.4 million shares outstanding, compared to net income of $2.5 million, or $0.07 per diluted share on a weighted average of approximately 37.9 million shares outstanding, in the six-month period a year ago.

Josephine Chaus, Chairwoman and Chief Executive Officer, said, “The results this quarter are clearly disappointing, reflecting in part the difficult conditions across the industry, which impacted sales and profitability in most of our distribution channels.

In light of the current environment, we have taken steps to reduce SG&A expenses and will look for additional opportunities to more efficiently utilize our overhead structure and reduce costs. In addition, we continue to evaluate new opportunities to leverage our strong design and sourcing capabilities to recapture revenue and develop new business.”

Bernard Chaus Inc


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