Apparel maker Innovo Group Inc announced financial results for the fourth quarter and fiscal year ended November 26, 2005.
For the quarter ended November 26, 2005, net sales were $19.7 million compared to net sales of $30.1 million in the prior year period.
The company reported a loss of continuing operations of ($17.7 million), or ($0.53) per share, versus income from continuing operations of $1.3 million or $0.04 per share in the corresponding period a year ago.
For the fiscal year ended November 26, 2005, net sales increased 4 percent to $108.6 million compared to net sales of $104.7 million in fiscal 2004.
The company reported a loss from continuing operations of ($16.4 million), or ($0.51) per share, versus a loss from continuing operations of ($7.1 million), or ($0.25) per share in the year ago 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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