The Company's consolidated inventories increased 3.8% to $56.2 million at September 30, 2007 versus the year-ago level of $54.2 million. Consumer Direct inventories increased 0.9% to $26.1 million from $25.9 million in the prior year, while Wholesale inventories increased 6.5% to $30.1 million from $28.3 million last year.
The Company's balance sheet remains strong at September 30, 2007 with cash and marketable securities of $96.7 million with no long-term debt.
Chairman and Chief Executive Officer Kenneth Cole said, "While our financial results continue to reflect a business in transition, important elements of the business continue to improve. Despite the tough market environment, there are a number of growth and marketing initiatives planned for next year which we believe should result in a meaningful improvement in our earnings."
Also the Company issued financial guidance for the fourth fiscal quarter; the Company expects to report net revenues in the range of $130 million to $135 million and earnings per fully-diluted share in the range of $0.15 to $0.17, including an expected $0.04 per share gain on a favorable one- time tax item.
The Company announced that its board of directors had approved its quarterly dividend of $0.18 per share. The dividend is payable on December 13, 2007 to shareholders of record as of November 21, 2007.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
