Leading producer of seamless intimate apparel, Tefron Inc, on Friday posted a first quarter net profit of $0.6 million compared to a net loss of $5.1m in the year-ago period. The firm, which makes underwear for famous brands such as Victoria's Secret, Gap, Target, Nike and JC Penney, said sales fell to $40.2m from $43.3m in 2001. Operating income for the period was $2.7m versus an operating loss of $4.3m last year.