Diplomat Direct Marketing Corp., Stony Point, NY, had net annual sales of $74.6 million, up from $17.5 million in 1997. Diplomat’s income from continuing operations before income taxes was $1.26 million, virtually unchanged from the previous 12 months. The company recorded a net loss of $1.4 million, compared to net income of $818,000 in 1997. The year ended on Sept. 30, 1998.
The 1998 financial results include the acquisition of Lew Magram and Jean Grayson’s Brownstone Studio, as well as the sale of Biobottoms.
“Despite a period of consolidation and restructuring to assimilate the newly acquired women’s apparel catalog businesses, we were able to maintain a profitability and accomplish 328% in revenue growth,” said president and CEO Jonathan Rosenberg.
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