At 19% net sales hike, Innovo Group posts strong Q3 results
13 Oct '05
1 min read
High quality apparel & accessory marketer Innovo Group Inc announced net sales of $36.4 million for its third quarter ended August 27, 2005, a 1 percent increase over net sales of $36.1 million in the prior year comparative period. For the third quarter, the Company recorded net income from continuing operations of $1,478,000, or $0.04 per share. For the nine month period, the Company's net sales increased by 19 percent to $88.9 million from $74.6 million during the nine months ended August 28, 2004, and net income from continuing operations was $1.3 million compared to a net loss of $8.4 million in the prior year comparative period.
Innovo Group Inc, through its operating subsidiaries Innovo Azteca Apparel Inc and Joe's Jeans Inc is a sales and marketing organization designing and selling apparel products to the retail and premium markets. The Company currently produces products under license agreements and other agreements for private label and branded products. The Company's apparel products consist of men's and women's denim and denim-related apparel products, including, women's high-end denim jeans and knit shirts featuring the Joe's Jeans and indie brands.
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