Apparel firm The Warnaco Group Inc has posted first quarter net income of $20.2 million, compared with $22.3m in the two months to April 5 last year.

The New York-based company, which emerged from bankruptcy in February 2003, also reported net revenues of $393.3m for the quarter, up from $313.3m in the comparable two-month period last year.

"We are proud of our many strategic and operational achievements during the quarter," CEO Joseph Gromek said.

"Our diversified and dynamic operating model proved successful as we met most of our goals, demonstrated by, among other things, our improved brand positioning and product successes."

For the quarter, Warnaco reported better-than-expected performances in its Calvin Klein underwear and jeans divisions, as well as within its swimwear unit.