Apparel and footwear company Mossimo has reported growth in third-quarter earnings and revenue, boosted by improvements in the Target division.

Third-quarter net earnings were $637,000 compared to a net loss of $125,000 a year ago, on a net revenue rise to $6.8 million compared to $4.9m last year.

Net earnings for the first nine months of 2005 were $4.7m compared to $2.1m last year. Nine-month revenue rose to $24.5m from $17.4m.

President and co-chief executive officer Edwin Lewis said: "Our third-quarter performance was primarily driven by continued improvements in our Target business, coupled with better regular price sales at Modern Amusement.

"While there is still much work to be done in both businesses, we are encouraged by the progress we are making."

The company also announced that its agreement with Hudson's Bay has expired, and said there are no plans to renew it.

Mossimo designs, licenses and distributes men's, women's, boy's and girl's apparel, footwear, and other fashion accessories such as jewellery, watches, handbags, and belts.

The company this week terminated a propsed deal to be privatised by founder Mossimo Giannulli after the agreement failed to get approval by the special committee of the board of directors.