Clothing and footwear manufacturer Kenneth Cole Productions Inc has reported a 17 per cent jump in second-quarter profit to $7.0 million from $6.0m in 2003.

Second quarter net revenue increased 16.6 per cent to a record level of $113.1 million versus the year-ago level of $96.9 million.

 

Earnings per fully-diluted share for the second quarter increased 13.3 per cent to $0.34 versus $0.30 per fully- diluted share in the year-ago quarter.

The New York-based company said that the results included a charge of 3 cents per share for the closing of its distribution centre, and the transition to a third-party provider.

Chairman and chief executive officer Kenneth Cole said: "During the quarter, we completed a move to a third-party distribution centre, which we believe will create cost savings and a greater degree of operational flexibility."

He added that one of the company's key objectives is to get product to market in a consistently shorter time frame.