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Nitches Q3 sales and earnings improve
21 Jul '06
3 min read
The company earned consolidated net income of $33,000 for the third quarter of fiscal 2006, reversing a loss of $188,000 in the year earlier period. Third quarter earnings per share were $.01 versus a loss of $.05 for the third quarter of fiscal 2005.
For the nine months ended May 31, 2006 the company earned $.15 per weighted average share as compared to a $.21 loss in the year earlier period. Consolidated pretax income was $1.4 million and net income was 598,000 for the current nine month period, whereas the company incurred a consolidated pretax loss of $1.2 million and an after tax loss of $724,000.
Per share amounts include the weighted average effect of 180,000 shares issued in conjunction with the acquisition of Designer Intimates on October 24, 2005. Per share amounts further reflect a 200 percent stock dividend issued on January 20, 2006 which had the effect of a 3-for-1 stock split.
Nitches currently distributes men's casual lifestyle clothing by Newport Blue, Dockers men's swimwear and t-shirts, golf apparel by The Skins Game, women's sleepwear and loungewear by Body Drama and women's western wear by Adobe Rose, Saguaro and Southwest Canyon.
Nitches Inc has been designing and marketing quality apparel for niche markets since 1971. It is headquartered in San Diego, California with offices in Los Angeles, New York City, Hong Kong and Istanbul.
For the nine months ended May 31, 2006 the company earned $.15 per weighted average share as compared to a $.21 loss in the year earlier period. Consolidated pretax income was $1.4 million and net income was 598,000 for the current nine month period, whereas the company incurred a consolidated pretax loss of $1.2 million and an after tax loss of $724,000.
Per share amounts include the weighted average effect of 180,000 shares issued in conjunction with the acquisition of Designer Intimates on October 24, 2005. Per share amounts further reflect a 200 percent stock dividend issued on January 20, 2006 which had the effect of a 3-for-1 stock split.
Nitches currently distributes men's casual lifestyle clothing by Newport Blue, Dockers men's swimwear and t-shirts, golf apparel by The Skins Game, women's sleepwear and loungewear by Body Drama and women's western wear by Adobe Rose, Saguaro and Southwest Canyon.
Nitches Inc has been designing and marketing quality apparel for niche markets since 1971. It is headquartered in San Diego, California with offices in Los Angeles, New York City, Hong Kong and Istanbul.
Nitches Inc
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Folker Stachetzki
Brother Internationale Industriemaschinen GmbH
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