Authentic Fitness’ Earnings Rise 72% in 4th Quarter
Authentic Fitness Corp., a Van Nuys-based apparel concern, reported a 72% jump in its fiscal fourth-quarter earnings. The gain was a result, the company said, of continued growth of its Speedo swimwear and active-wear lines, its Cole, Anne Cole and Catalina brands and a strong performance by its retail stores.
However, Authentic Fitness’ profit fell 18% for the fiscal year ended July 2.
In the fourth quarter, the company earned $4.35 million, up from $2.54 million in net income a year earlier. Its quarterly revenue grew 38%, to $59.8 million from $43.4 million.
For fiscal 1994, Authentic Fitness had earnings of $7.99 million, down from a $9.78-million profit the previous year. Its annual revenue rose 34%, to $178.6 million from $132.9 million.