Clothing maker Hartmarx reported a dive in fourth-quarter profit after shutting a plant and liquidating discontinued brands.

Quarterly net earnings totalled US$331,000 compared with $7.3m a year earlier. Revenue, meanwhile, rose 4.4% to $163.4m from $156.5m last year.

The company expects full-year 2006 earnings of 50 cents to 56 cents per share plus revenue of $585m to $600m.

Hartmarx said the 2007 results will mirror a reduction of mid-priced brands marketed to mainstream department stores to about 15% of consolidated sales comparing to 17% in 2006 and 27% the year before.

Chairman and CEO Homi B Patel said: "While fourth-quarter and full-year results were in line with our most recently issued guidance, we are extremely disappointed with the company's overall 2006 performance.

"The decisive actions that we have taken in the last six months should result in a significant earnings recovery in fiscal 2007."