Leading apparel designer, maker and marketer Jaclyn Inc reported financial results for the first quarter ended September 30, 2005.
Net Sales for the three-month period ended September 30, 2005 were $29,248,000 compared to $35,805,000 for last year's first fiscal quarter.
The Company reported net earnings of $146,000, or $.06 per diluted share, for the first quarter ended September 30, 2005.
This compares to net earnings of $865,000, or $.32 per diluted share, for the quarter ended September 30, 2004.
Allan Ginsburg, Chairman of the Board, reported 'As anticipated and previously reported, this year's first fiscal quarter reflects lower sales and earnings results compared to the same period last year, primarily due to several programs which were not repeated this year by one of their larger women's sleepwear customers, and partly attributable to the timing of certain shipments.'
Ginsburg also stated, 'While they look forward to a positive performance for the second fiscal quarter, they anticipate that the second half of fiscal 2006 will be challenging in light of a number of factors, including the unknown impact of higher energy costs on consumer spending.'
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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