Jaclyn Reports Financial Results: Financial News

MAYWOOD, NJ--(MARKET WIRE)--Sep 26, 2008 -- Jaclyn, Inc. (OTCQX: JCLY) today reported financial results for the fiscal year ended June 30, 2008.

Net sales for the year ended June 30, 2008 were $151,304,000 compared to $154,507,000 a year earlier. The Company had net earnings of $362,000, or $.15 per diluted share, compared to fiscal 2007 net earnings of $709,000, or $.28 per diluted share (which included the previously reported reduction in 2007 earnings before income taxes of approximately $3,089,000 ($1,970,000 after tax) in connection with the final distribution to participants of the Company's pension plan termination and settlement).

Forward Looking Statements

Note: This press release contains information concerning, among other things, our future plans and objectives that are or may be deemed to be forward-looking statements. However, forward-looking statements are subject to a number of known and unknown risks and uncertainties that may cause our actual results, trends, performance or achievements, or industry trends and results, to differ materially from the future results, trends, performance or achievements expressed or implied by such forward-looking statements. Those risks and uncertainties may include, but are not limited to, general economic and business conditions; competition; potential changes in customer spending; acceptance of our product offerings and designs; the variability of consumer spending resulting from changes in domestic economic activity; a highly promotional retail environment; any significant variations between actual amounts and the amounts estimated for those matters identified as our critical accounting estimates as well as other significant accounting estimates made in the preparation of our financial statements; and the impact of current and potential hostilities in the Middle East and in other geographic areas; as well as other geopolitical concerns. You are urged to consider all such factors. In light of the uncertainty inherent in such forward-looking statements, you should not consider their inclusion to be a representation that such forward-looking matters will be achieved. We assume no obligation for updating any such forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking statements.

Jaclyn, Inc. is a designer, manufacturer and marketer of apparel, women's sleepwear, infants' and children's apparel, handbags, premium incentives and related accessories. Website: jaclyninc.com

 
                      JACLYN, INC. AND SUBSIDIARIES

              CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS


                 For the Fiscal Year ended June 30, 2008
                        With comparisons to 2007

Year Ended June 30,                       2008                 2007


Net Sales                            $151,304,000          $154,507,000

Earnings before Income Taxes              873,000             1,602,000(1)

Net Earnings                         $    362,000          $    709,000(1)

Net Earnings per Common Share
 - Basic                             $        .15          $        .29

Weighted average shares outstanding
 - basic                                2,444,000             2,478,000


Net Earnings per Common Share
 - Diluted                           $        .15          $        .28

Weighted average shares outstanding
 - diluted                              2,468,000             2,528,000

(1) Fiscal year ended June 30, 2007 includes a charge to earnings before
income taxes of $3,089,000 ($1,970,000 after tax) in connection with the
final settlement distribution in that year to participants of the Company's
terminated pension plan.