Shoe, apparel and accessories company Phoenix Footwear has reported good top-line performance for the third quarter of 2005, but said organic growth missed expectations.

Phoenix net sales increased 47.9 per cent to $34.3 million from $23.2m last year, primarily attributable to $11.7m from the company's two recently acquired brands, Chambers and Tommy Bahama.

However, the company said organic growth was flat, as an increase for the Royal Robbins' brand was offset by declines in the other legacy brands.

Phoenix also said results for the SoftWalk, Trotters and HS Trask casual brands were negatively affected by the loss of the contract with Dillard's department stores.

Net income for the third quarter was $981,000 compared to net income of $1.7m a year ago.

Chairman Jim Riedman said: "During the quarter, we made progress integrating the acquisitions of the Chambers Belt Company and Paradise Shoe Company, which both had a positive impact on our top and bottom line performance."

Phoenix Footwear designs, develops and markets a diversified selection of men's and women's dress and casual footwear, belts, personal items, outdoor sportswear and travel apparel.