Concord back in black during fourth period. (Concord Fabrics Inc., quarter ending September 1, 1996)(Brief Article)

Daily News Record, November, 1996

NEW YORK -- Concord Fabrics Inc. said earnings for the fourth quarter ended Sept. 1 were $187,698, or about 5 cents a share, compared to $2.3 million lost last year. Sales eased 1.3 percent to $35.6 million from $41.1 million.

Earnings for the fiscal year came in at $937,918, or 26 cents a share, rebounding from a year-ago loss of $3 million, which included a $660,000 charge in connection with the closing of a manufacturing facility and an after-tax credit of $297,000, related to a loan repayment.

Sales dropped 18.6 percent to $146.6 million from $180.2 million.

In a statement, the company cited positive initial results from its plan to deemphasize merchandising of woven fabrics marketed to apparel manufacturers.

Although this strategy should...

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