Jaclyn Reports Second Quarter Financial Results

Marketwired

MAYWOOD, NJ--(Marketwired - Oct 9, 2013) - Jaclyn, Inc. (OTCQX: JCLY) today reported financial results for the second quarter ended August 31, 2013.

Net sales for the three-month period ended August 31, 2013 were $44,217,000 compared to $43,266,000 for the three-month period ended August 31, 2012. The Company reported net earnings totaling $539,000, or $.24 per diluted share, for the quarter ended August 31, 2013. This compares to net earnings of $248,000, or $10 per diluted share, for last year's second quarter ended August 31, 2012. 

Net sales for the six-month period ended August 31, 2013 were $76,936,000 compared to $71,763,000 for the same period last year. Net loss for the six-month period ended August 31, 2013 was $454,000, or $.20 per diluted share. For the comparable six-month period in the prior year, the Company reported a net loss of $626,000, or $.26 per diluted share.

Note: This press release contains information concerning, among other things, our future plans and objectives that is 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)
                 
    Second Quarter   Six Months
      Ended August 31,       Ended August 31, 
                 
    2013   2012   2013   2012
                 
Net Sales   $44,217,000   $43,266,000   $76,936,000   $71,763,000
                 
Net Earnings (Loss)   $539,000   $248,000   $(454,000)   $(626,000)
                 
Net Earnings (Loss) per Common Share - Diluted   $.24   $.10   $(.20)   $(.26)
                 
Weighted Average Number of Shares Outstanding - Diluted   2,280,000   2,443,000   2,280,000   2,443,000
                 
                 
Contact:
Company
Anthony Christon
Chief Financial Officer
Jaclyn, Inc.
(201) 909-6000
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