JLM Couture, Inc. Reports Third Quarter Results

Business Wire, Sept 20, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 20, 2000

JLM Couture, Inc. (NASDAQ:JHPC), a designer, manufacturer and marketer of wedding apparel, today said that for the third fiscal quarter ended July 31, 2000, revenues were $6,022,139, an 11 percent gain on revenue of $5,409,904 for the like quarter last year.

Net income for JLM's 2000 third fiscal quarter was $303,348, or $0.15 per basic and diluted share, as compared to $286,384 or $0.14 a basic and diluted share, reported for the like quarter in fiscal 1999.

For the first nine months of fiscal 2000, revenues were $15,593,508, a nine percent increase on revenues of $14,341,425 for the like period a year ago. Net income for the first nine months of fiscal 2000 was $832,525, or $0.41 a basic and diluted share, as compared to $791,125 or $0.39 a basic share and $0.38 a diluted share, for the like period in fiscal 1999.

Joseph L. Murphy, President and CEO, said JLM's revenue growth resulted from increased demand for the company's contemporary classic wedding gown and bridesmaid lines, in particular Jim Hjelm Occasions and the Lazaro bridesmaides dresses. Earnings growth in the quarter was impacted by the company's continued investment in expanding its European operations, as well as costs related to introducing its new Lazaro line of bridesmaids.

JLM Couture, Inc., founded in 1987 and based in New York City, is the nation's only publicly traded manufacturer of wedding apparel. The company's lines include Occasions, the industry's first bridesmaids gowns designed for other social occasions in addition to the wedding; Lazaro, a contemporary bridal rendition of the finest in classic European bridal styling; Visions, a moderately priced bridal line featuring the finest in contemporary bridal design; Jim Hjelm Couture, contemporary bridal designs offering the finest fabrics; and Alvina Valenta, the newest look in elegant upscale contemporary-classic styling.

                 Consolidated Statement of Operations
                 For the Three and Nine Months Ended
                   July 31, 2000 and July 31, 1999
                             (Unaudited)


                            Three Months Ended July 31,
                           2000                    1999

Revenues               $ 6,022,139            $ 5,409,904

Net Income             $   303,348            $   286,384

Earnings Per
  Common Share
    Basic                   $ 0.15                 $ 0.14
    Diluted                 $ 0.15                 $ 0.14

Weighted Average Number
  of Common and Common
  Equivalent Shares
  Outstanding(a)
    Basic                2,014,823              2,043,181
    Diluted              2,041,459              2,097,724


                             Nine Months Ended July 31,
                           2000                    1999

Revenues               $15,593,508            $14,341,425

Net Income             $   832,525            $   791,125

Earnings Per
  Common Share(a)
    Basic                   $ 0.41                 $ 0.39
    Diluted                 $ 0.41                 $ 0.38

Weighted Average Number
  of Common and Common
  Equivalent Shares
  Outstanding(a)
    Basic                2,013,626              2,011,020
    Diluted              2,044,571              2,074,387

(a) Net Income Per Common Share amounts and Weighted Average Number of

Common and Common Equivalent Shares Outstanding have been restated

to reflect the adoption of Statements of Financial Accounting

Standards No. 128, "Earnings Per Share".

This document contains forward-looking statements. There are certain important factors that could cause results to differ materially from those anticipated by the statements made above. Additional information on these and other factors are included in the company's quarterly reports on Form 10-Q, the company's annual report on Form 10-K ended Oct. 30, 1998 and the company's annual report to shareholders.