Fila reports 127% earnings leap in a quarter

August 02, 1996|BY A SUN STAFF WRITER

Fila Holding SpA yesterday reported that second-quarter earnings increased 127 percent as its sneaker and clothing lines continue to have strong appeal with consumers.

The results were announced after U.S. markets closed, but investors had already driven up the company's stock -- up $10.625 to close at $91.25.

The company said net income in the quarter ended June 30 was $25.9 million, compared with $11.4 million in the same period a year ago. Revenue rose 58.8 percent, to $322 million from $202 in the comparable quarter last year.

Fila, whose U.S. headquarters are in Hunt Valley, has topped analysts' expectations 10 consecutive quarters and has had a five-year run of sales growth.

The company earned 98 cents per American depositary share in the second quarter, compared with 46 cents per ADS in the same period last year.

Pub Date: 8/02/96

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