Jim Hjelm's grows earnings 74% in 1997 second quarter

Business Wire, June 4, 1997

NEW YORK--(BUSINESS WIRE)--June 4, 1997--

Quarterly, Six Month revenues and income all records

Jim Hjelm's Private Collection, Ltd. (NASDAQ:JHPC) today said that, for the second fiscal quarter ended April 30, 1997, revenues were $3,962,619, a 34% improvement on revenues of $2,966,627 for the same quarter last year.

The company had net income in the second quarter of fiscal 1997 of $229,087, or 12 cents per share, a 74% percent gain on net income of $131,938, or eight cents per share, for the same quarter in fiscal 1996.

For the first six months of fiscal 1997, revenues were $7,165,152, 36% higher than revenues of $5,279,751 for the same period a year ago. Net income for the first two quarters of fiscal 1997 was $424,375, or 22 cents per share, a 102% rise from net income of $210,097, or 14 cents per share, for the same period in fiscal 1996.

All revenue and income figures for the three- and six-month periods for fiscal 1997 were company records.

Joseph L. Murphy, president and CEO, attributed JHPC's impressive sales and earnings growth to greater demand for the company's wedding gown and bridesmaid lines, in particular Jim Hjelm Couture and Visions wedding gowns, Jim Hjelm Occasions bridesmaids and the company's Lazaro line of wedding gowns designed by Lazaro Perez.

Murphy said he expected the trend in growth to continue for the remaining quarters of the year.

He added he expected the company's newly acquired bridal line, Alvina Valenta, to make a significant contribution ot JHPC sales and earnings in fiscal 1998.

Jim Hjelm's Private Collection Inc., founded in 1987 and based in New York City, is the nation's only publicly traded manufacturer of wedding apparel. In addition to Jim Hjelm Couture, Lazaro, Occasions and Alvina Valenta lines, the company markets Jim Hjelm's Private Collection. -0-

                 CONSOLIDATED STATEMENT OF OPERATIONS

              For the Three Months and Six Months Ended
                   April 30, 1997 and April 30, 1996

                              (Unaudited)

                                     Three Months Ended
                               April 30              April 30
                                  1997                  1996

Revenues                    $3,962,619              $2,966,627

Net Income                     229,087                 131,938

Earnings Per
 Common And Common
 Equivalent Share

   Primary                         .12                     .09
   Full Diluted                    .12                     .08



                                     Six Months Ended
                               April 30              April 30
                                  1997                  1996

Revenues                    $7,165,152              $5,279,751

Net Income                     424,375                 210,097

Earnings Per
 Common And Common
 Equivalent Share

   Primary                         .22                     .15
   Full Diluted                    .22                     .14