March 1, 2012 / 12:58 PM / 6 years ago

Kenneth Cole swings to 4th-quarter profit

(Reuters) - Clothes and accessories company Kenneth Cole Productions Inc KCP.N, which is considering a takeover offer from its founder American clothing designer Kenneth Cole, posted a quarterly profit compared with a year-ago loss, helped by a rise in wholesale revenues.

Designer Kenneth Cole arrives at the annual American Foundation for AIDS Research (amfAR) New York Gala at Cipriani's on Wall Street in New York February 8, 2012. REUTERS/Andrew Burton

Net income for the fourth quarter was $8 million, or 43 cents a share, compared with a loss of $2.7 million, or 15 cents a share, last year.

The company, founded by Cole in 1982, said revenue rose 8.6 percent to $131.2 million. Wholesale revenue shot up 47 percent to $62.3 million.

Shares of the New York-based company closed at $15.69 on Wednesday on the New York Stock Exchange.

Reporting by Arpita Mukherjee in Bangalore; Editing by Viraj Nair

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