The Warnaco Group Inc reported results for the third quarter ended September 30, 2006:
The Company notes that fiscal 2006 third quarter results include the operations of the Calvin Klein Jeans and related businesses in Europe and Asia, which were acquired on January 31, 2006.
Excluding the CKJEA Business, net revenues increased 6.0 percent to $345.8 million compared to $326.3 million in the prior year quarter and operating income declined 5.3 percent to $16.1 million from $17.0 million in the prior year quarter.
The Company also notes that, as reported on October 31, 2006, it has entered into an agreement to sell certain assets of its Ocean Pacific business.
The third quarter and year-to-date operating results of that business, excluding the operations of the Ocean Pacific women's and juniors swimwear business (which the Company will operate under a new three year license agreement), are categorized as "assets held for sale" and are reflected in discontinued operations.
Financial data as of September 30, 2006, December 31, 2005 and October 1, 2005, and for the three and nine month periods ended September 30, 2006 and October 1, 2005, can be found on the Schedules attached to this release.
Third Quarter Highlights Net revenues increased 38.5 percent to $452.0 million for the third quarter of fiscal 2006, compared to $326.3 million for the third quarter of fiscal 2005.
Continued strength in the Intimate Apparel Group and an improvement in the Swimwear Group's revenues more than offset declines in revenues from the Sportswear Group's pre-acquisition businesses, and contributed to a 6.0 percent revenue increase for the Company's pre-acquisition businesses.
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