California-based apparel, footwear and accessories company Mossimo, Inc. has reported its financial results for the second quarter ended June 30.

Second quarter net revenues increased to $10.3 million compared with $9 million for the same period last year and net earnings were $2.71 million compared with $2.2 million for the same period last year.

The company reported net earnings for the first six months of $1.5 million compared with $4 million in the corresponding period a year ago. Six-month net revenue and earnings numbers reflected the impact of the previously announced changes to the company's licence agreement with Target, which included a one-time $6 million rebate to Target of previously earned royalties, recognised as a reduction in revenue in the first quarter of 2006.