Hampshire Group declares results for 2005 year & Q4
06 Mar '06
1 min read
Hampshire Group Limited announced net income for the year ended December 31, 2005, was $12,798,000, or $1.56 per diluted share compared with $13,725,000, or $1.66 per diluted share, in 2004.
Net income in 2005 included non-recurring income of $2,755,000, net of income taxes. Net sales for the year ended December 31, 2005 were $324,025,000 compared with net sales of $301,999,000 for 2004
In the fourth quarter of 2005 net sales were $103,720,000 compared with $105,246,000 in the prior year, and net income was $4,139,000, or $0.51 per diluted share, compared with $8,332,000, or $1.01 per diluted share for the fourth quarter 2004.
The Company reported that income was strong in the men's sweater business, as its branded strategy helped to achieve market share gains in a declining market. The women's sweater business and the related separates businesses were adversely affected by competitive market conditions.
Hampshire Group Limited is a diversified apparel company, believed to be the largest supplier of sweaters in North America and a leading supplier of related separates.
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