SOURCE: Jaclyn, Inc

January 13, 2014 13:26 ET

Jaclyn Reports Third Quarter Financial Results

MAYWOOD, NJ--(Marketwired - Jan 13, 2014) - Jaclyn, Inc. (OTCQX: JCLY) today reported financial results for the third quarter ended November 30, 2013.

Net sales for the three-month period ended November 30, 2013 were $47,153,000 compared to $51,880,000 for the three-month period ended November 30, 2012. The Company reported third quarter ended November 30, 2013 net earnings of $460,000, or $.20 per diluted share, compared to net earnings in last year's third quarter of $1,307,000, or $.54 per diluted share (which includes an after-tax gain on the sale of a remaining lot at the Company's former West New York, New Jersey facility totaling $452,000, or net earnings from operations of $855,000).

Net sales for the nine-month period ended November 30, 2013 were $124,089,000 compared to $123,643,000 for the same period last year. Net earnings for the nine-month period ended November 30, 2013 were $6,000, or $.00 per diluted share. This compares to net earnings of $681,000, or $.27 per diluted share (which includes an after-tax gain on the sale of a remaining lot at the Company's former West New York, New Jersey facility totaling $452,000, or net earnings from operations of $229,000), in the comparable nine-month period last year. 

Note: This press release contains information concerning, among other things, our future plans and objectives that is or may be deemed to be forward-looking statements. However, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause our actual results, trends, performance or achievements, or industry trends and results, to differ materially from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. Those risks and uncertainties may include, but are not limited to, general economic and business conditions; competition; potential changes in customer spending; acceptance of our product offerings and designs; the variability of consumer spending resulting from changes in domestic economic activity; a highly promotional retail environment; any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates as well as other significant accounting estimates made in the preparation of our financial statements; and the impact of current and potential hostilities in various parts of the world; as well as other geopolitical concerns. You are urged to consider all such factors. In light of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved. We assume no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.

Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premium incentives and related accessories. Website: jaclyninc.com.

   
JACLYN, INC. AND SUBSIDIARIES  
   
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)  
   
    Third Quarter     Nine Months  
    Ended November 30,     Ended November 30,  
                     
    2013   2012     2013   2012  
                             
Net Sales   $ 47,153,000   $ 51,880,000     $ 124,089,000   $ 123,643,000  
                             
Net Earnings   $ 460,000   $ 1,307,000 (1)    $ 6,000   $ 681,000 (1) 
                             
Net Earnings per Common Share - Diluted   $ .20   $ .54 (1)    $ .00   $ .27 (1) 
                             
Weighted Average Number of Shares Outstanding - Diluted     2,280,000     2,429,000       2,280,000     2,487,000  
                             
(1) Included in net earnings for last year's three and nine-month periods ended November 30, 2012, is the previously reported gain on the sale of the remaining lot relating to the Company's former West New York, NJ facility totaling $452,000 after income taxes, or $.18 per diluted share.
   

Contact Information

  • Company Contact:
    Anthony Christon
    Chief Financial Officer
    Jaclyn, Inc.
    (201) 909-6000