USA: Innovo Group Swings To Profit As Sales Rocket
Apparel firm Innovo Group Inc on Monday revealed it swung to a fourth quarter and full year profit as it was boosted by soaring sales and strong growth across all of its subsidiaries. The California-based company reported a net profit of $41,000 for the quarter compared with a net loss of $540,000 in the year prior. For the full year, it posted net income of $572,000 versus a net loss of $618,000 in 2001.
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