Happy Kids shows $542,000 July net income

By Caroline Salls

Pittsburgh, Sept. 1 - Happy Kids Inc. reported a $542,000 net income for July on sales of $14.22 million, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

In June, the company showed a net loss of $237,000 on sales of $9.27 million.

Cash on July 31 was $45,000, the same as at the end of June and May.

Happy Kids is a New York-based designer and marketer of children's apparel. Declining sales and being overleveraged for several years led Happy Kids to file for bankruptcy on Jan. 4, 2005. Its Chapter 11 case number is 05-10016.

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