Earnings Rise as Donna Karan Mulls Strategic Options
Aileen Gallagher
03/13/01 - 11:18 AM EST
Donna Karan (DK Quote), which is mulling a
merger proposal from
LVMH Moet Hennessy (LVMHY Quote), said Tuesday its fourth-quarter earnings more than doubled from the year-ago period.
The international fashion design house earned $8.9 million, or 40 cents a share, up from $2.8 million, or 13 cents a share, in the year-ago period. One analyst polled by
First Call/Thomson Financial forecast earnings of 20 cents in the quarter.
Revenue in the fourth quarter was $165.7 million, down from $176.6 million in the year-ago period.
The company said it was putting off a conference call with investors while a special committee of the board of directors considers "strategic options" that include LVMH Moet Hennessey's merger proposal or " any viable proposal for a combination with another company and the option of remaining an independent company."
Shares in Donna Karan fell 2 cents, or 0.2%, to $8.60 in recent trading on the
New York Stock Exchange.
