Operating expenses related to Hi-Tec's acquisition and other extraordinary items, caused Cherokee Global Brands to post a net loss of $589,000 in the second quarter against net income of $1.9 million in the year-ago period. Boosted by indirect sales of $5.95 million from Hi-Tec, total revenues rose to $14.0 million from $8.5 million. The American company has lowered its financial outlook for the year, predicting adjusted Ebitda of between $10 million and $12 million.
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