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Article: Sanmark in red for quarter: cite acquisition of Movie Star. (Sanmark-Stardust Inc., lingerie manufacturer)
- Article from:
- WWD
- Article date:
- July 7, 1988
CopyrightCOPYRIGHT 1988 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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SANMARK IN RED FOR QUARTER; CITE ACQUISITION OF MOVIE STAR
NEW YORK (FNS) -- Costs from the acquisition of Movie Star, Inc., put Sanmark-Stardust Inc., in the red in the third quarter with a loss of $599,000 against earnings of $406,000.
Sales in the period ended March 31, jumped 91.3 percent, to $31,371,000 from $16,395,000.
In the nine months, earnings dropped 95.2 percent, to $79,000 from $1,661,000, while sales were up 57.4 percent to $75,278,000 from $47,820,000.
Per share earnings in the year-ago periods were not available.
Mark M. David, chairman and chief executive officer, said there were "no surprises" in the third ...