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Jaclyn Reports

From: ASAP


JACLYN, INC. reported financial results for the fiscal year ended June 30, 2001. Net Sales for the year ended June 30, 2001 were $79,570,000 compared to $72,078,000 for fiscal 2000. The Company reported net earnings of $100,000, or $.04 per share, in fiscal 2001. This compares to net earnings in fiscal 2000 of $260,000, or $.10 per share. Mr. Allan Ginsburg, Chairman of the Board of Jaclyn, stated that "business was soft during the third and fourth quarters, mostly due to the uncertain economic climate. While the Company clearly faces some additional near-term challenges within the retail environment, especially in light of the recent tragic assault on our Country by terrorists, we remain positive about the ability of our economy to recover." Mr. Ginsburg went on to say that "the Company continues to look for viable acquisitions that have a strategic fit and will help strengthen its market share." Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, handbags, sport bags, and related accessories.

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