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Vans Posts Quarterly Loss: In its first...

From Times Staff and Wire Reports

Vans Posts Quarterly Loss: In its first financial report as a public company, athletic shoe maker Vans Inc. reported a first-quarter net loss of $400,000, or 6 cents a share, citing one-time costs associated with the retirement of junk bonds. Company officials said that without the one-time costs, the company would have had net income of $1.8 million for the quarter ended Sept. 1, compared to net income of $800,000 in the same period last year. Sales for the three months ended Sept. 1 were $25.4 million, up 41% from $18.1 million in the year-earlier quarter. Vans had its initial public stock offering last month.


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