Apparel manufacturer Haggar Corp on Wednesday reported a steep fall in third quarter net income to $460,000 from $1 million in the year-ago period but a three per cent rise in sales to $111.2m.

The Texas-based company, which makes men's casual and dress apparel and women's sportswear, said it had cut its inventory by $8.6m to $95.3m and slashed its debt by $33.3m to $34.1m due to increasing control of working capital.