Beeba’s Reports Net Income of $1.8 Million

Beeba’s Creations, an importer and wholesale distributor of women’s sportswear, on Thursday reported net income of $1.8 million, up 62%, for the year ended Aug. 31. Sales for the year rose 37% to $46.6 million. For the fourth quarter, net income totaled $161,065, compared to a net loss in the prior year of $325,581. Sales in the quarter more than doubled, to $12.1 million.

The company said its improved fourth quarter was sparked by the addition of fall and holiday styles to its product lines.

Two months ago, Beeba’s completed an initial public offering of 850,000 shares at $8.25 per share. The company will use the $6.1 million in net proceeds for financing new inventory, developing new product lines and for general corporate purposes.