Kellwood Company reported results for the third quarter ended November 3, 2007, according to Robert C. Skinner, Jr., chairman, president and chief executive officer.
Third Quarter: Net sales from continuing operations totaled $404.1 million, as compared to $397.0 million in the third quarter last year. Net loss from continuing operations was $5.9 million, or $0.23 per diluted share, versus a net loss of $1.5 million, or $0.06 per diluted share, last year.
Included in net loss from continuing operations for the current quarter were restructuring and other non-recurring charges of $9.9 million (after tax), or $0.38 per diluted share associated with the previously announced reorganization of the women's sportswear business, transformation of the Phat Farm men's business to solely a licensing model and streamlining of corporate functions.
Net earnings from continuing operations for the third quarter last year included restructuring and other non-recurring charges of $12.1 million (after tax), or $0.47 per diluted share associated with the Company's completed 2005 strategic restructuring initiatives.
Total net loss was $1.1 million, or $0.04 per diluted share, versus net earnings of $8.1 million, or $0.31 per diluted share, in the third quarter last year. Included in total net loss for the third quarter were net earnings from discontinued operations of $4.9 million, or $0.19 per diluted share. Total net earnings for the last year third quarter included earnings from discontinued operations of $9.6 million, or $0.37 per diluted share.
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