Women's casual apparel maker Cygne Designs reports Q1 sales down

15 Jun '05

2 min read

Leading private label women's career and casual apparel manufacturer Cygne Designs Inc announced the results of operations for the first quarter ended April 30, 2005.

Net sales for the first quarter of 2005 were $5,555,000, a decrease of $31,000 from $5,586,000 in the first quarter of 2004. New York & Company, Inc. accounted for 92% and 86% of the net sales for the first quarter of 2005 and 2004, respectively.

Loss from continuing operations before provision for restructuring and income taxes for the first quarter ended April 30, 2005 was $84,000, compared to a loss from continuing operations before income taxes of $81,000 in the comparable prior period in 2004. The provision for restructuring of $102,000 in the first quarter ended April 30, 2005 represents the severance cost associated with the downsizing of the Company's Guatemalan facility.

Loss from continuing operations before income taxes for the first quarter ended April 30, 2005 was $186,000, compared to a loss from continuing operations before income taxes of $81,000 in the comparable prior period in 2004. Operating results for the first quarter ended April 30, 2005 are not necessarily indicative of the results that may be expected for the fiscal year ended January 28, 2006.

Net loss for the first quarter ended April 30, 2005 was $191,000 or $0.02 on a basic and diluted per share basis, compared to a net loss of $94,000 or $0.01 on a basic and diluted per share basis in the comparable prior period in 2004.
parable prior period in 2004.

Cygne Designs Inc is a manufacturer of private label women's career and casual apparel with sales to retailers and wholesalers located in the United States.

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Cygne Designs Inc

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