The Warnaco Group, Inc. reported Swimwear Group net revenues increased 10% to $50.8 million in the 2009 fourth quarter, citing gains in both Speedo and Calvin Klein Swim. Operating income increased to $2.3 million, or 4% of Swimwear Group net revenues, compared to a loss of $0.8 million in the prior-year quarter.


Overall, Warnaco reported net revenues of $505.4 million, up 14% from the prior year quarter and a gross margin increase to 44% of the companys net revenues. Operating income was approximately $28.0 million compared to an $11.9 million operating loss in the prior year quarter, and the companys operating margin was 6% of net revenues.
Income per diluted share from continuing operations was 29 cents per share, compared to a loss of 27 cents per share in the prior-year quarter and includes costs related to pension expense, restructuring expenses, certain tax related items and other items of 35 cents and 55 cents per diluted share, respectively.


For fiscal 2009, Swimwear Group net revenues declined 3% to $251.1 million. Operating income increased to $15.6 million, or 6% of Swimwear Group net revenues, compared to $11.5 million, or 4% of Swimwear Group net revenues in 2008.   On segmented brand basis, the companys Speedo brand accounted for 7.9% of net revenues while earning $16.9 million in fiscal 2009 compared to 2.6% in 2008. Additionally,  Swimwear Group operating income for fiscal 2009 increased $4.1 million, or 35.5%, reflecting an $11.3 million increase in Speedo wholesale, partially offset by a $5.1 million decrease in Calvin Klein wholesale and a decline of $2.1 million in Swimwear retail.