US accessories designer, Tandy Brands Accessories, Inc. has announced that net sales for the fourth quarter ended June 30, 2005, decreased 3.6% to $42.9 million compared with $44.5 million for the same period last year. The company reported a net loss for the fourth quarter of $2.1 million compared with net income of $129,000 in the prior year's fourth quarter. However, these results were in-line with the financial results previously announced on August 12.

For the fiscal year ended June 30, 2005, net sales were $221.2 million compared with $215.4 million for the same period in the prior year. Net income for the 12-month period totalled $4 million compared with net income of $7 million, for the same period last year.

J. S. B. Jenkins, president and CEO, commented, "As we previously announced on August 12, we did not meet our plan for the fiscal 2005 fourth quarter. Our sales decrease and net loss were the result of a delayed shipment of women's mass merchant accessories to a large customer from the fourth quarter 2005 to the first quarter 2006 and ongoing restructuring activities related to the consolidation of our women's mass merchant and department store business units.”

Tandy Brands Accessories, Inc. designs, manufactures and markets fashion accessories for men, women and children. Key product categories include belts, wallets, and handbags.