International revenues boost Cherokee results

18/04/2007
 
American licensor and brand management company Cherokee Inc. has reported improved financial results for the fourth quarter and fiscal year ended February 3.

Revenues were enhanced by the receipt of $33 million in connection with the sale of its Mossimo Finder’s Agreement, which resulted in total fourth quarter revenues of $42.2 million, compared with $9.9 million in the comparable prior year period. Net earnings were $20.7 million compared with $4.4 million.

For the year, net revenues rose to $76.6 million (including the one-time $33 million payment) compared with $42.7 million last year. Full-year sales exceeded $4 billion. Net earnings increased to $34.8 million compared with $18.3 million in 2006.