St. John Knits Profit Up 40% for Quarter

St. John Knits Inc. posted a 40% gain in profit for the fiscal third quarter as sales climbed 26%.

The company, which designs and manufactures women’s clothing and accessories, reported net income of $6 million, or 35 cents share, for the period ended July 28, up from $4.3 million, or 26 cents a share, for the year-earlier period. Sales rose to $46.5 million from $37 million. For the first nine months, net income totaled $18.5 million, or $1.08 a share, 38% higher than the $13.4 million, or 81 cents a share, posted for the like three quarters a year ago. Sales were up 24% to $141.8 million from $113.9 million.