2005 Net Earnings Of $8 Million Validate R.G. Barry Corporation Turnaround.

Publication: PR Newswire

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COPYRIGHT 2006 PR Newswire Association LLC

Slipper Marketer Posts 2005 EPS of $0.82 vs. 2004 Per Share Loss of $2.02

PICKERINGTON, Ohio, Feb. 28 /PRNewswire/ -- Citing the success of its two- year corporate turnaround program, at-home comfort footwear marketer R.G. Barry Corporation today reported net earnings of $8.0 million for the year ended December 31, 2005, versus a $19.9 million net loss reported at the end of 2004.

For the full year, the Company reported: -- net sales from continuing operations of $105.5 million, up slightly from the $104.4 million reported in 2004; -- gross profit as a percent of sales at 42.0 percent versus 35.8 percent in 2004; -- consolidated net earnings of $8.0 million, or $0.82 per basic share and $0.79 per diluted share, compared to a consolidated net loss in 2004 of $19.9 million, or a loss of $2.02 per basic and diluted share; and -- restructuring and asset impairment charges of $1.6 million versus restructuring and asset impairment charges of $17.3 million in 2004. In the fourth quarter, the Company recorded: -- net sales of $36.8 million, basically unchanged from the final quarter of 2004; --...

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