St John Knits International Inc

* Stock in St. John Knits Inc. ceased trading on the NYSE as the founding Gray family and a New York investment firm closed a deal to buy the upscale women's clothing company for $30 a share. The shares closed Tuesday at $29.75, a three-month high. An affiliate of New York-based Vestar Capital Partners now owns 78% of the newly structured company, St. John Knits International Inc., based in Irvine, and Chief Executive Robert E. Gray and his family own about 15%.

The first outsider to head upscale women's clothier St. John Knits International Inc. has resigned after just eight months on the job, prompting co-founder Robert E. Gray to again assume the chief executive post. The departing CEO, former Neiman Marcus executive Hugh Mullins, resigned because the transition from retail to wholesale "was not what he anticipated," the company said in a statement. Robert Gray, 75, declined to elaborate. Mullins could not be reached for comment.

The first outsider to head upscale women's clothier St. John Knits International Inc. has resigned after just eight months on the job, prompting co-founder Robert E. Gray to again assume the chief executive post. The departing CEO, former Neiman Marcus executive Hugh Mullins, resigned because the transition from retail to wholesale "was not what he anticipated," the company said in a statement. Robert Gray, 75, declined to elaborate. Mullins could not be reached for comment.

The Irvine designer and manufacturer of women's clothing and accessories reported that net income for the fiscal fourth quarter more than doubled to $9.1 million, or $1.22 a share, from $4.5 million, or 53 cents a share, a year ago. Sales for the quarter ended Oct. 29 rose 19% to $91.3 million. For the year, net income totaled $23.8 million, or $3 a share, 62% higher than the $14.7 million, or 98 cents a share, for the prior year. Sales increased 14% to $336.5 million.

The Irvine designer and manufacturer of women's clothing and accessories reported that net income for the fiscal fourth quarter more than doubled to $9.1 million, or $1.22 a share, from $4.5 million, or 53 cents a share, a year ago. Sales for the quarter ended Oct. 29 rose 19% to $91.3 million. For the year, net income totaled $23.8 million, or $3 a share, 62% higher than the $14.7 million, or 98 cents a share, for the prior year. Sales increased 14% to $336.5 million.

St. John Knits International Inc., Irvine designer and manufacturer of women's clothing and accessories, said net income for the third fiscal quarter totaled $5.7 million, or 70 cents a share, contrasted with a loss of $3.9 million, or 29 cents a share, for the same period last year. Sales for the quarter ended July 30 rose 19% to $83.4 million.

High-end apparel maker St. John Knits International Inc. said Chief Executive Richard Cohen was leaving the company immediately for family reasons. Board member Philip B. Miller, a former chairman and CEO of Saks Fifth Avenue, will serve as the interim chief until the Irvine-based company finds a replacement. Miller has been a St. John director since 2003.

* Freedom Communications Inc. named Doreen Wade to succeed Alan J. Bell as president of its broadcasting operations. Wade has been general manager of a Freedom CBS affiliate in West Palm Beach, Fla. Bell was named chief executive and president of Freedom Communications last month after Samuel C. Wogemuth resigned under pressure from the Hoiles family, which owns the Irvine company. The broadcast division includes five CBS and three ABC television network affiliates. * St.

St. John Knits International Inc., Irvine designer of upscale women's clothing and accessories, posted net income of $3.7 million, or 42 cents a share, for the fiscal first quarter, down 36% from $5.8 million, or 34 cents a share, for the year-earlier period. The company attributed the decline mostly to interest expenses of $8.2 million, primarily from the debt incurred to finance the company's buyout in July by the founding Gray family and Vestar Capital Partners, a New York investment firm.

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.

* Stock in St. John Knits Inc. ceased trading on the NYSE as the founding Gray family and a New York investment firm closed a deal to buy the upscale women's clothing company for $30 a share. The shares closed Tuesday at $29.75, a three-month high. An affiliate of New York-based Vestar Capital Partners now owns 78% of the newly structured company, St. John Knits International Inc., based in Irvine, and Chief Executive Robert E. Gray and his family own about 15%.

Worries that short-term interest rates will be raised today by the Federal Reserve Board in an effort to slow inflation chilled bond sales Tuesday, causing a number of companies including Irvine investment group St. John Knits International Inc. to reduce daily bond sales. St. John Knits International, a group set up to buy upscale clothing manufacturer St. John Knits Inc., cut its sale about 20% to about $130 million. The company is selling 10-year notes at 12.25% to 12.