Sportswear maker I.C. Isaacs declares Q2 results

03 Aug '05

5 min read

New York based Sportswear manufacturer I.C. Isaacs & Company reported second quarter 2005 results. For the three months ended June 30, 2005, the Company reported that net sales increased 10.2 percent to $21.7 million and diluted earnings per share increased by 36.4 percent to $0.15 versus $0.11 during the second quarter of 2004.

For the six months ended June 30, 2005, the Company reported that net sales increased 12.6 percent to $45.5 million and diluted earnings per share increased by 88.9 percent to $0.34 versus $0.18 during the second quarter of 2004.

Peter Rizzo, Chairman and CEO commented, "They are pleased with their accomplishments in the second quarter and first half of the fiscal year. The repositioning of the Girbaud brand is going as planned and they are clearly benefiting from the improvements they have made in the areas of management, infrastructure and distribution.

Their sales, design, finance, sourcing and planning divisions are now highly capable, responsive and streamlined for greater cost-efficiencies. Their distribution strategy, which is the final piece of repositioning, is well under way and generating higher levels of profitability and setting a firm base from which to accelerate the growth of business."

Second Quarter 2005 Results

Net income increased $0.7 million to $2.0 million, or $0.15 per diluted share, for the three months ended June 30, 2005, compared to net income of $1.3 million, or $0.11 perdiluted share, for the same period of 2004.

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