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Article: Munsingwear shows $1.2M profit in year. (Brief Article)
- Article from:
- Daily News Record
- Article date:
- February 19, 1993
CopyrightCOPYRIGHT 1993 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Munsingwear, Inc., reported a profit of $1.2 million in the year ended Jan. 2, its first full-year profit in six years.
The earnings compared with a loss of $6.6 million in 1991. Operating income more than doubled to $2.4 million from $1.1 million.
Sales last year jumped 8 percent to $39.84 million from $35.6 million.
Earnings for the quarter totaled $50,000 on sales of $8.7 million. Year-ago figures are not comparable, due to the company's reorganization.
According to chief executive officer Charles Campbell, "Revenue growth was highlighted by three new licensing agreements and a 15 percent increase in the company's core ...