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Q2 revenues soar at fashion distributor Mossimo

12
Aug '05
Santa Monica based fashion distributing company Mossimo Inc announced financial results for the second quarter ended June 30, 2005.

Mossimo Inc reported second quarter 2005 total net revenues increased to $9.0 million compared to $6.2 million for the same period last year. The Company reported second quarter net earnings of $2.2 million compared to net earnings of $1.0 million for the same period last year, and diluted earnings per share of $0.14 compared to diluted earnings per share of $0.06 for the same period last year.

Net revenues for the six months ended June 30, 2005 were $17.7 million compared to $12.4 million in the same period last year. The company reported net earnings for the first six months of 2005 of $4.0 million compare to net earnings of $2.2 million in the corresponding period a year ago, and diluted earnings per share of $0.26 compared to diluted earnings per share of $0.14 for the same period last year.

Edwin Lewis, President and Co-Chief Executive Officer stated, "The second quarter results were driven by the growth of the Mossimo brand at Target, in particular, their women's black label and red label, women's shoes, men's wovens and bottoms all performed well."

"At the same time, revenues at Zellers were flat year-over-year as they continue to experience merchandising issues in the Canadian marketplace. With regard to Modern Amusement, their margins were impacted by higher off price sales and the write down of slower moving inventory."

It established in 1987, Mossimo Inc is a designer, licensor and distributor of men's, women's, boy's and girl's apparel, footwear, and other fashion accessories such as jewelry, watches, handbags, and belts.

Mossimo Inc


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