Net sales for the three-month period ended May 31, 2012 were $28,497,000 compared to $41,501,000 for the three-month period ended May 31, 2011. The Company reported a first quarter net loss of $879,000, or $.36 per diluted share, compared to a net loss of $404,000, or $.17 per diluted share, in last year's comparable quarter.
Note: This press release contains information concerning, among other things, our future plans and objectives that are or may be deemed to be forward-looking statements. However, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause our actual results, trends, performance or achievements, or industry trends and results, to differ materially from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. Those risks and uncertainties may include, but are not limited to, general economic and business conditions; competition; potential changes in customer spending; acceptance of our product offerings and designs; the variability of consumer spending resulting from changes in domestic economic activity; a highly promotional retail environment; any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates as well as other significant accounting estimates made in the preparation of our financial statements; and the impact of current and potential hostilities in various parts of the world; as well as other geopolitical concerns. You are urged to consider all such factors. In light of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved. We assume no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.
Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premium incentives and related accessories. Website: jaclyninc.com
JACLYN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) First Quarter Ended May 31, ---------------------------- 2012 2011 ------------- -------------Net Sales $ 28,497,000 $ 41,501,000Loss before Income Taxes $ (1,569,000) $ (696,000)Net Loss $ (879,000) $ (404,000)Net Loss per Common Share-Basic $ (.36) $ (.17)Net Loss per Common Share-Diluted $ (.36) $ (.17)Weighted Average Number of Shares Outstanding- Diluted 2,443,000 2,440,000
Chief Financial Officer