USA: Cygne Designs Swings To Q3 Loss
The New York-based company said in a news release the loss was "primarily attributable to timing of shipments in the third quarter of 2002 compared to 2001".
Cygne, which in June sold its Middle East Knit business, said quarterly sales fell to $5.3 million from $11.8m last year with the vast majority of that slide attributable to the sale of that unit.
It added Lerner New York accounted for 100 per cent of the Americas and Far East net sales for period compared to 88 per cent in the comparable period in 2001.
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