Jaclyn Inc announces financial results for fiscal year ended June 30
28 Sep '05
2 min read
Leading apparel designer, maker and marketer Jaclyn Inc reported financial results for the fiscal year ended June 30, 2005.
Net Sales for the year ended June 30, 2005 were $126,477,000 compared to $123,850,000 a year earlier. The Company had net earnings of $1,049,000, or $.39 per diluted share. This compares to net earnings in the prior year of $1,458,000, or $.54 per diluted share.
Allan Ginsburg, Chairman of the Board of Jaclyn, noted that, "despite overall higher sales volume, company did not achieve an increase in net earnings in fiscal 2005. This resulted mostly from higher net sales in their handbag divisions, which have lower gross profit margins than apparel businesses."
Ginsburg further noted that, "in contrast to the recent seasonal variations of business in which Jaclyn has generally realized a significant portion of net sales in the first and second quarters of its fiscal year, they anticipate sales and earnings for the first half of fiscal 2006 to be considerably below the same period last year."
He concluded, "They have a strong balance sheet and they continue to look for acquisitions of other companies which would further enhance stockholder value."
Jaclyn Inc is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premiums and related accessories.
With over 75 years in business and as a publicly-held company with sales of over $100 million on the American Stock Exchange, Jaclyn is a worldwide resource in the fashion industry. Jaclyn's quality products are sold through many of the country's most respected department, catalogue, specialty and chain retailers.
The Company has global resources that reach around the world, with management teams and facilities in North America, Central/South America, Asia/Pacific and MidEast/Africa.
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