Mossimo’s Earnings More Than Double
Mossimo Inc. said profit more than doubled in the second quarter as sales surged. The Santa Monica-based fashion designer and licensor said net income grew to $3.7 million, or 23 cents, from $1.5 million, or 10 cents, a year earlier.
Revenue rose 45% to $7.4 million. That included $1.5 million in nonrecurring revenue that had been deferred pending the results of a royalty audit that is now complete, the company said.
Mossimo’s net income included $600,000, or 4 cents a share, from the nonrecurring revenue.
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