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G-III Apparel reports net loss of $1.7mn

08
Sep '06

G-III Apparel Group Ltd announced operating results for the second quarter of fiscal 2007.

For the three-month period ended July 31, 2006, G-III reported net sales of $69.1 million and a net loss of $1.7 million, or $0.14 per share, compared to net sales of $54.6 million and a net loss of $301,000, or $0.03 per share, during the comparable period last year.

This compares to the Company's previous guidance for the second quarter of a net loss between $0.30 and $0.35 per share.

For the six-month period ended July 31, 2006, the Company reported net sales of $83.5 million and a net loss of $10.6 million, or $0.85 per share, compared to net sales of $68.3 million and a net loss of $5.0 million, or $0.45 per share, during the comparable period last year.

The seasonal loss in the second quarter and first six months of fiscal 2007 was higher than last year primarily due to the inclusion of the results of the two companies acquired in July 2005.

All share and per share data in this release have been retroactively adjusted for the Company's three for two stock split effective March 28, 2006.

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G-III Apparel Group Ltd is a leading manufacturer and distributor of outerwear and sportswear under licensed labels, private labels and our own labels.

G-III Apparel Group Ltd

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