US: Cygne posts Q3 sales growth but suffers loss
Apparel company Cygne Designs said it is pleased with third-quarter trading results, which revealed a net sales increase to US$22.9m but a net loss of $128,000.
Sales for the three months ended 31 October totalled $22.9m compared to $8.5m in the same period last year.
Third-quarter net loss was $128,000 compared to earnings of $115,000 a year ago.
For the nine months ended 31 October 31, net sales increased 33.6% to $32.6m compared to $24.4m the year before.
Nine-month net loss totalled $745,000 compared to $215,000 a year ago.
Chief executive officer Bernard Manuel said: "We are pleased with Cygne's performance for the third quarter and with the integration of our recent acquisition."
Cygne is a designer and producer of branded and private label denim, casual and career apparel with sales to a broad range of retailers in the US.
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