Clothing, footwear and accessories company Kenneth Cole Productions Inc has posted a 36 per cent rise in second-quarter net income on a 12 per cent increase in revenue.

The said yesterday that net income for the quarter was $5.4 million, or 26 cents a share, compared with $4 million, or 19 cents a share, a year earlier. Revenue increased to $99.3 million from $88.7 million a year earlier.

Chairman and chief executive officer Kenneth Cole said: "Our brand and product diversification and cost-control measures have begun to pay off." He added that the company expects to see further improvement through the back half of the year.
Wholesale revenues for the second quarter increased 28.2 per cent to $53.6 million versus $41.8 million in the same quarter last year. Consumer direct revenues during the second quarter decreased 3.2 per cent to $39.6 million.

Licensing revenue for the second quarter was approximately even with year-ago levels, at $6.0 million.

Kenneth Cole Productions believes it is likely to report revenues and earnings for the third quarter of fiscal 2002 in the range of $117-122 million and between $0.38 and $0.40 per share, respectively. This compares to prior guidance of $112 to $117 million in net revenues and earnings per share between $0.35 and $0.37.