Hartmarx operating results line with recent guidance

29 Jan '08

2 min read

Hartmarx Corporation reported operating results for its fourth quarter and fiscal year ended November 30, 2007. Full year net sales were $562.4 million in 2007 compared with $597.9 million in 2006.

The net loss in 2007 was $4.2 million or $.12 per basic and diluted share compared to net earnings of $7.3 million or $.20 per basic and diluted share last year.

Fourth quarter revenues were $151.2 million in the current period and the net loss was $6.7 million, representing $.19 per basic and diluted share.

Last year's fourth quarter revenues were $163.4 million with net earnings of $.3 million or $.01 per basic and diluted share.

The 2007 full year operating results were in line with the most recent guidance included in the Company's January 7, 2008 announcement.

The Company also reaffirmed its 2008 guidance of estimated annual revenues in the range of $580 million - $600 million and full year earnings per diluted share in the range of $.30 - $.40.

First quarter results for 2008 are expected to approximate last year's first quarter revenues of $120 million and a loss per diluted share of $.09, and includes the effect of those licenses which the Company announced will not be renewed.

Hartmarx Corporation

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