US footwear manufacturer, Steven Madden, Ltd., has published its financial results for the first quarter ended March 31, 2005. Net sales increased 5.8% to $83.3 million from $78.8 million in the first quarter of 2004. Net income was $1.0 million compared with $4.1 million in the first quarter of last year.

Revenues from the wholesale business, comprised of the company's seven brands, Steve Madden Women’s, Steve Madden Men’s, Stevies, l.e.i., Steven, Unionbay and Candie's, increased 3.3% to $56.9 million from $55.1 million in the comparable period of 2004.

The company has also announced the official return of Steve Madden to the company. Mr. Madden, who founded the company in 1990, has resumed the role of creative and design chief and will be responsible for creative and design functions of the company.

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