Lifetime Hoan Corp.(reports financial results for third quarter 1996)(Brief Article)

HFN: The Weekly Newspaper for the Home Furnishing Network, December, 1996

WESTBURY, N.Y. -- Lifetime Hoan Corp. posted record third-quarter results. Net sales rose more than 13 percent to $25.1 million, compared with $22.1 million reported for the same period last year. Net income was $2.9 million, compared with $2.4 million, a 22 percent increase.

Net sales for the nine months were $65.4 million, a 16 percent increase over the $56.3 million reported in the year-ago period.

"Our joint-venture acquisition of the assets of Farberware, as well as the acquisition of the Hoffritz name, has enabled us to achieve a 22 percent increase in the net income of this period," said Milton Cohen, president and chief executive officer of Lifetime.