1 marzo 2012 / 12:58 / 6 anni fa

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.

<p>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</p>

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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