I could easily charge $40.00 per month for my newsletter...
here are some highlights to consider from the filing:
At August 29, 1998 the Company had a net deferred tax asset approximating
$7,600,000 which is fully reserved until it can be utilized to offset
deferred tax liabilities or realized against taxable income. The Company
had a net operating loss carryforward for book and tax purposes of
approximately $17,900,000.
This is very important .... the company actually had sales...something YSCO has not had for years.
RESULTS OF OPERATIONS
Sales
Net sales for the six months ended August 29, 1998 decreased 36% from prior year levels to $7,344,000, and in the second quarter of the current fiscal year declined 41% from prior year levels to 3,062,000.Included in this is net sales of GUESS? in the amount of $1,992,000 and $426,000 for the first and second quarters espectively. The decline in the sales is directly related to the
phase-out of sales of Brittania product associated with the actions announced by Levi's to dispose of the Brittania brand, and the discontinuance of the GUESS? product line as of the first quarter of the current fiscal year, 1999.
They actually made a profit.
LIQUIDITY AND CAPITAL RESOURCES
The Company showed a net profit of $573,000 for the six months ending August 29,
1998, and $187,000 in profit for the second fiscal quarter. Included in this was
a loss from operations of $503,000 and $377,000, respectively.
...even though they have been experiencing losses over the years. IF you READ it carefully you will see that they have downsized bigtime and restructured to reduce expenses.
Read the 13D ....http://www.sec.gov/Archives/edgar/data/69623/0000950172-97-001164.txt
methinks they have some strong hands behind them;
CONFORMED SUBMISSION TYPE:
SC 13D/APUBLIC DOCUMENT COUNT:
2
FILED AS OF DATE: 19971223SROS: NONEGROUP MEMBERS: ARMAND MARCIANO
GROUP MEMBERS: GUESS INC ET AL/CA/GROUP MEMBERS: MAURICE MARCIANO
GROUP MEMBERS: MAURICE MARCIANO TRUSTGROUP MEMBERS: PAUL MARCIANO
GROUP MEMBERS: THE ARMAND MARCIANO TRUSTGROUP MEMBERS: THE PAUL MARCIANO TRUST
anyway...just my thoughts ... but I am dumb as wood....so whatdoesitmatteranyway?
Lazarus |
