I wouldn't be afraid to get married to this company, although it's a tough one to buy...JLMC.
NEW YORK, Jun 21, 2002 (BUSINESS WIRE) -- JLM Couture, Inc. (NASDAQ: JLMC), a
designer, manufacturer and marketer of wedding apparel, today said that, for the
second fiscal quarter ended April 30, 2002, revenues were $ 7,608,472, a 21
percent gain on revenue of $ 6,302,085 for the like quarter last year.
Net Income for JLM's 2002 second fiscal quarter was $ 380,959, or $ 0.19 per
basic and diluted share, as compared to $ 313,531, or $ 0.16 a basic and diluted
share, reported for the like quarter in fiscal 2001.
For the first six months of fiscal 2002, revenues were $ 12,108,748, a 15
percent increase on revenues of $ 10,551,862 for the like period a year ago. Net
income for the first six months of fiscal 2002 was $ 548,803, or $ 0.27 a basic
and diluted share, as compared to $ 472,084, or $ 0.24 a basic share and diluted
share, for the like period in fiscal 2001.
Joseph L. Murphy, president and CEO, said JLM's revenue growth is being fueled
by increased demand for the company's contemporary classic wedding gown and
bridesmaid lines.
JLM Couture, Inc., founded in 1987 and based in New York City, is the nation's
only publicly traded manufacturer of wedding apparel. The company's lines
include Occasions, its bridesmaids \ social occasions collection and the
Occasions' Just Separates collection; Lazaro, a contemporary bridal rendition of
the finest in classic European bridal styling; Visions, a moderately priced
bridal collection featuring the finest in contemporary design; Jim Hjelm
Couture, a collection of upscale bridal designs offer made from the finest
fabrics; and Alvina Valenta, featuring an elegant look in upscale
contemporary-classic bridal styling; and Lazaro Ensemble bridesmaids.
Consolidated Statement of Operations
For the Three and Six Months Ended
April 30, 2002 and April 30, 2001
(Unaudited)
Three Months Ended April 30,
2002 2001
Revenues $7,608,472 $ 6,302,085
Net Income $ 380,959 $ 313,531
Earnings Per Common Share
Basic $ 0.19 $ 0.16
Diluted $ 0.19 $ 0.16
Weighted Average Number of
Common and Common Equivalent
Shares Outstanding
Basic 2,027,333 1,936,834
Diluted 2,035,560 1,960,018
Six Months Ended April 30,
2002 2001
Revenues $ 12,108,748 $ 10,551,862
Net Income $ 548,803 $ 472,084
Earnings Per Common Share
Basic $ 0.27 $ 0.24
Diluted $ 0.27 $ 0.24
Weighted Average Number of
Common and Common Equivalent
Shares Outstanding
Basic 2,063,359 1,952,759
Diluted 2,070,741 1,975,424
This document contains forward- looking statements. There are certain important
factors that could cause results to differ materially from those anticipated by
the statements made above. Additional information on these and other factors are
included in the company's quarterly reports on Form 10-Q, the company's annual
report on Form 10-K ended October 30, 2001 and the company's annual report to
shareholders.
CONTACT: JLM Couture, Inc., New York
Joseph L. Murphy, 212/819-1066
URL: businesswire.com
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Copyright (C) 2002 Business Wire. All rights reserved.
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KEYWORD: NEW YORK
INDUSTRY KEYWORD: APPAREL/TEXTILES
RETAIL
EARNINGS
SOURCE:
JLM
Couture,
Inc.
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