Authentic Fitness' Profit Jumps 43% in 3rd Quarter

Authentic Fitness Corp. in Van Nuys, which sells swimwear and fitness apparel under the Speedo, Oscar de la Renta, Catalina and White Stag brand names, reported a 43% jump in its fiscal third-quarter earnings.

The profit increase resulted from growth in its swimwear and active-wear brands, the company said. Authentic Fitness also benefited from lower interest costs because money raised in a stock sale in December was used to pay off debt.

Authentic Fitness' profit in the three months that ended April 2 was $4.23 million, compared with $2.97 million in net income a year ago. Its third-quarter revenue was $53.3 million, a 45% gain from $36.7 million in revenue.

For the nine months, the company earned $3.64 million, down 50% from the $7.24 million that it earned in the same period the previous year. Its nine-month revenue totaled $118.7 million, up 33% from $89.6 million.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World