Haggar Announces Core Earnings Per Share Increase of 26% for the Second Quarter of Fiscal 2004

Haggar Announces Core Earnings Per Share Increase of 26% for the
Second Quarter of Fiscal 2004 


DALLAS, April 27  /PRNewswire-FirstCall/ -- Haggar Corp.  announced results for
the three and six months ended March 31, 2004.

Actual net income for the second quarter of fiscal 2004 was $2.7 million or
$0.38 earnings per diluted share, as compared to actual net income of $1.8
million for the second quarter of fiscal 2003, or $0.29 earnings per share. 
For the second quarter of fiscal 2004, Haggar reported a 26% increase in core
earnings per diluted share to $0.49, or $3.4 million in core earnings. This
compares to the second quarter of fiscal 2003, in which the Company reported
core earnings per diluted share of $0.39, or $2.5 million in core earnings.

Actual net income for the six months ended March 31, 2004 was $3.9 million, or
$0.56 earnings per diluted share, as compared to a net loss for the six months
ended March 31, 2003 of $0.2 million or $0.03 loss per share.  For the six
months ended March 31, 2004, Haggar reported a 79% increase in core earnings
per diluted share to $0.68 in 2004, or $4.7 million in core earnings.  This
compares to the six months ended March 31, 2003, in which the Company reported
core earnings per diluted share of $0.38, or $2.5 million in core earnings. 
Net sales for the six months ended March 31, 2004 were $239.8 million compared
to $249.4 million for the six months ended March 31, 2003.

    Earnings Summary (unaudited)
    (in thousands, except per share amounts)

                              Three Months Ended        Six Months Ended
                                   March 31,                  March 31,
                              2004         2003         2004          2003

  Actual net income (loss)   $2,671       $1,831       $3,856        $(174)
  Actual net income (loss)
   per common share
   - Diluted                  $0.38        $0.29        $0.56       $(0.03)
  Unusual charges (benefits)
   net of tax:
    Relocation of global
     headquarters               422          ---          509          ---
    Wrongful termination
     lawsuit                    309          ---          309          ---
    Proxy defense costs         ---          527          ---          752
    Legal settlement on
     landlord dispute           ---          307          ---          307
    Gain on sale of
     Edinburg, Texas
     facility                   ---         (190)         ---         (190)
    Strategic media
     advertising                ---          ---          ---        1,755
  Core earnings              $3,402       $2,475       $4,674       $2,450
  Core earnings per
   common share - Diluted     $0.49        $0.39        $0.68        $0.38
  Weighted average shares
   outstanding - Diluted      6,986        6,430        6,861        6,418



J. M. Haggar, III, the Company's Chairman and Chief Executive Officer, stated,
"Our efforts to improve margins during this fiscal year continue to reap
benefits, as our increased margins have contributed to the 26% core earnings
per share growth for the company for the period ending March 31, 2004."

Frank Bracken, President and Chief Operating Officer, added, "The Company has
continued its progress towards developing Smart, Innovative, American(TM)
products for our customers as evidenced by our recent introduction of
innovative products utilizing a proprietary new treatment for cotton pants,
sport shirts, and dress pants.  This innovation eliminates fading, shrinking,
staining, and wrinkling.  Products having this technology, entitled 'Forever
New(TM),' will continue to be introduced by the Company throughout this year."

David Tehle, Executive Vice President and Chief Financial Officer, noted, "The
Company reduced its debt to $11.7 million as of the end of the second quarter
of fiscal 2004, as compared to $36.3 million in debt as of the end of the
second quarter of fiscal 2003, a debt reduction of $24.6 million."

The Haggar Board of Directors continued the $0.05 per share quarterly dividend.
 The dividend will be payable on May 24, 2004, to shareholders of record as of
May 10, 2004.

The Company will file a Form 8-K with the Securities and Exchange Commission
today with its updated financial projections for fiscal 2004.  The Company has
increased its earnings per share projection range to $1.22 to $1.31 for the
full year for fiscal 2004.

Haggar Clothing Co., a wholly-owned subsidiary of Haggar Corp., is a leading
marketer of men's casual and dress apparel and women's sportswear, with global
headquarters in Dallas, TX.  Haggar markets in the United States, the United
Kingdom, Canada, Mexico, and Indonesia.  Haggar also holds exclusive licenses
in the United States to use the Claiborne(R) trademark, Kenneth Cole New
York(R), and Kenneth Cole Reaction(R) trademarks to manufacture, market, and
sell men's shorts and pants in men's classification pant departments.  For more
information visit the Haggar website at http://www.haggarcorp.com/ .

The statements contained in this release that are not historical facts are
forward-looking statements.  These forward-looking statements are subject to
known and unknown risks, uncertainties and assumptions that could cause actual
results to differ materially from those anticipated or implied by the forward-
looking statements; the results could be affected by, among other things,
general business conditions, the impact of competition, the seasonality of the
Company's business, labor relations, governmental regulations, unexpected
judicial decisions, and inflation.  In addition, the financial results for the
quarter just ended do not necessarily indicate the results that may be expected
for any future quarters or for any fiscal year.  Investors also should consider
other risks and uncertainties discussed in documents filed by the Company with
the Securities and Exchange Commission.  Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking statements.  The
Company undertakes no obligation to update any such statements or publicly
announce any updates or revisions to any of the forward-looking statements
contained herein to reflect any change in the Company's expectations with
regard thereto or any changes in events, conditions, circumstances or
assumptions underlying such statements.

Use of Non-Generally Accepted Accounting Principles (Non-GAAP) Financial
Information

The Company reports its financial results in accordance with GAAP. However, the
Company uses core earnings as a non-GAAP performance measure to provide both
management and investors a more complete understanding of the Company's
underlying operational results.  This non-GAAP measure is an indicator
management uses to provide additional meaningful comparisons between current
results and prior reported results, and as a basis for planning and forecasting
for future periods.  Core earnings is calculated by taking actual net income
(loss) and adjusting that amount for unusual charges or benefits (based on
management's interpretation) which are calculated net of tax.  The presentation
of core earnings is not meant to be considered in isolation or as a substitute
for comparable metrics prepared in accordance with GAAP in the United States.

                               HAGGAR CORP.

   Condensed Consolidated
   Statements of Operations

                          Three Months Ended       Six Months Ended
                              March 31,                  March 31,
                          2004         2003         2004         2003
                      (Unaudited, in thousands, except per share amounts)

  Net sales             $132,071     $135,487     $239,805     $249,394

  Cost of sales           95,168      100,638      171,580      185,921

  Gross profit            36,903       34,849       68,225       63,473

  Selling, general and
   administrative
   expenses              (32,492)     (32,012)     (62,067)     (63,543)

  Royalty income             345          300          598          675

  Other income                26          533          399          480

  Interest expense          (459)        (648)        (916)      (1,383)

  Income (loss) before
   provision (benefit)
   for income taxes        4,323        3,022        6,239         (298)

  Provision (benefit)
   for income taxes        1,652        1,191        2,383         (124)

  Net income (loss)        2,671        1,831        3,856         (174)

  Net income (loss) per
   common share
   -Basic                   0.39         0.29         0.58        (0.03)

   -Diluted                 0.38         0.29         0.56        (0.03)

  Weighted average shares
   outstanding
   -Basic                  6,823        6,418        6,691        6,418

   -Diluted                6,986        6,430        6,861        6,418


   Condensed Consolidated
   Balance Sheet                          March 31, 2004  September 30, 2003
                                            (Unaudited)
  Assets                                  (In thousands)
  Cash and cash equivalents                   $6,645             $7,674
  Accounts receivable, net                    68,593             56,528
  Inventories                                 99,365             96,959
  Deferred tax asset                          10,505             10,505
  Other current assets                         5,791              3,557
  Total current assets                       190,899            175,223
  Property, plant and equipment, net          45,411             45,932
  Goodwill, net                                9,472              9,472
  Other assets                                 6,121              7,580
    Total assets                            $251,903           $238,207
  Liabilities and Stockholders' Equity
  Accounts payable                           $25,349            $26,245
  Accrued liabilities                         34,558             31,898
  Other current liabilities                    5,323              7,228
  Current portion of long-term debt            3,671              3,671
  Total current liabilities                   68,901             69,042
  Other non-current liabilities               11,346             10,077
  Long-term debt                               8,000              5,671
  Stockholders' equity                       163,656            153,417
    Total liabilities and
     stockholders' equity                   $251,903           $238,207


DATASOURCE: Haggar Corp.



CONTACT:  David Tehle, Executive Vice President and Chief Financial

Officer of Haggar Corp., [phone], or fax, [phone]



Web site:  http://www.haggarcorp.com/ 

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