JLM Couture, Inc. Reports Fiscal 2000 Results

Business Wire, Feb 14, 2001

Business Editors/Apparel Writers

NEW YORK--(BUSINESS WIRE)--Feb. 14, 2001

JLM Couture, Inc. (NASDAQ:JLMC) a designer, manufacturer and marketer of wedding apparel, today said that for the fiscal year ended October 31, 2000, the company had record revenues of $20,032,066, an 11 percent gain on revenue of $18,097,989 reported a year ago. Net income for JLM's fiscal year was $748,523, or $0.37 per basic share ($0.36 diluted), as compared to $880,169 or $0.44 per basic share ($0.43 diluted) a year ago.

Joseph L. Murphy, president and CEO, said JLM's revenue growth was a result of the introduction of the Lazaro bridesmaid Ensembles as well as increased European sales. He said net income decreased as a result of increased expenses relating to the launching of the Lazaro bridesmaid Ensembles as well as increased expenses in connection with the expansion of the company's European operations. Mr. Murphy also noted that the company's gross profit margin decreased as this year's sales comprised a higher percentage of more moderately priced dresses, which have lower margins. The company expects its recent product introductions to spur continued growth in fiscal 2001.

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, its bridesmaids \ social occasions collection and the Occasions' Just Separates collection; Lazaro, a contemporary bridal rendition of the finest in classic European bridal styling; Visions, a moderately priced bridal collection featuring the finest in contemporary design; Jim Hjelm Couture, a collection of upscale bridal designs offer made from the finest fabrics; and Alvina Valenta, featuring an elegant look in upscale contemporary-classic bridal styling; and Lazaro Ensemble bridesmaids.

                 Consolidated Statement of Operations
                         For the Years Ended
                October 31, 2000 and October 31, 1999

                           October 31,    October 31,
                                2000           1999

Revenues                 $ 20,032,066    $ 18,097,989

Net Income                  $ 748,523       $ 880,169

Earnings Per Common Share
  Basic                        $ 0.37          $ 0.44
  Diluted                      $ 0.36          $ 0.43

Weighted Average Number of
Common and Common Equivalent
Shares Outstanding
  Basic                     2,019,218       2,003,735
  Diluted                   2,056,731       2,054,517

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 October 30, 1998 and the company's annual report to shareholders.