Vans Inc.: The Orange company said worldwide...

Vans Inc.: The Orange company said worldwide demand for its new line of tennis shoes contributed to record first-quarter revenue. Revenue rose 32.4% to $28.4 million in the quarter ended May 31 from $21.5 million a year ago. Net income fell to $457,000, or 5 cents a share, from $903,000, or 9 cents a share.

President and Chief Executive Officer Walter E. Schoenfeld said the company was profitable for the quarter despite continuing to operate its unprofitable Orange plant during the period. Vans subsequently closed the plant and moved its remaining domestic production to a newer plant in Vista, in northern San Diego County.