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People's Liberation Q4 gross margin reaches record 50.5%

25 Mar '08
3 min read

Net income for the fourth quarter of 2007 was $53,000 compared with a net loss of $295,000 in the fourth quarter of 2006.

Recent Developments:
• In the first quarter of 2008, the Company added three new exclusive distributors for the William Rast brand in Italy, Russia and Scandinavia and replaced its Canadian distributor.

• In February 2008, the Company successfully launched its William Rast Collection, designed by Johan and Marcella Lindeberg of Paris68.

• In the fourth quarter of 2007, the Company raised approximately $496,000 in net proceeds in a private placement transaction with various strategic investors, including its German distributor, its Chief Operating Officer, and its investment banking firm.

“We are pleased to have reached our previously announced goals, which included achieving a profitable second half of the 2007 fiscal year and fourth-quarter 2007 margins in excess of 50%,” commented Chairman and Chief Executive Officer Colin Dyne. “In addition, our February launch of the Fall 2008 William Rast Collection has generated strong customer interest and orders, and gives us a very optimistic outlook for the balance of 2008.”

Mr. Dyne continued, “Our collection now sets us apart from being just a denim brand and moves us into a contemporary lifestyle brand for both men's and women's apparel. The changes we made in the second half of 2007 to our infrastructure, operations, sales, marketing and design position us for significant growth in 2008.”

People's Liberation Inc

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