Ladies' apparel manufacturer Cygne Designs Inc posted a decrease in income and sales for the third quarter ended October 30 2004.

Third-quarter income from continuing operations totalled $125,000 compared to income of $186,000 in the comparable period in 2003.

Third-quarter net sales from continuing operations were $8.47 million compared to $9.12m in the same quarter last year.

New York & Company Inc (formerly Lerner New York) made up 84 per cent and 93 per cent of the net sales for the third quarters of 2004 and 2003, respectively.

Net sales from continuing operations for the nine months ended 30 October 2004 were $24.37m compared to $20.97m in the nine months of 2003.

New York & Company contributed 80 per cent and 91 per cent of the net sales for the nine months of 2004 and 2003, respectively.

Income from continuing operations before income taxe for the nine months of 2004 was $250,000, compared to income of $458,000 in the comparable period in 2003.

Cygne Designs Inc is a manufacturer of private label women's career and casual apparel with sales to retailers and wholesalers located in the US.