Net Income Falls 36% at St. John Knits

St. John Knits International Inc., Irvine designer, manufacturer and marketer of women's clothing and accessories, reported net income of $5.3 million, or 65 cents a share, for the second quarter ended April 30, down 36% from the $8.3 million, or 49 cents a share, for the like period last year. The company said it had interest expense of $7.9 million resulting primarily from debt to finance the buyout in July by the company's founders and a New York investment firm. Sales rose 9% to $85.2 million.