Casual and golf apparel maker Hartmarx Corporation saw third quarter revenues fall to $149.1 million compared to $159.7 million in the same period of 2001.

Earnings before interest and taxes (EBIT) in the quarter ended 31 August 2002 improved to $6.8 million compared to a loss of $7.4 million in 2001. After consideration of interest expense and income taxes, net earnings before extraordinary item were $1.8 million or $.05 per share in 2002 compared to a loss of $6.6 million or $.22 per share in 2001.

Homi B Patel, president and chief executive officer of Hartmarx Corporation, commented: "We anticipate that we will meet our objective of being profitable for the year and will significantly exceed the goals to reduce working capital by 15 per cent and debt by $25 million.

"The implementation of actions taken to improve our margins and reduce our cost structure should enable us to achieve a major earnings improvement next year, even without a significant improvement in the economy or retail business."

For the nine months, revenues were $419.3 million compared to $446.9 million in 2001. EBIT was $13.6 million this year compared to a loss of $9.2 million in 2001.