Phoenix Footwear Group Inc. announced unaudited consolidated earnings results for the first quarter ended March 30, 2013. For the quarter ended March 30, 2013, net sales increased to $5.8 million or 1.6% from $5.7 million when compared to the first quarter of fiscal 2012. Gross sales for the first quarter of fiscal 2013 increased $496,500 or 7.9% to $6.7 million compared to $6.3 million for the first quarter of fiscal 2012.

The increase in gross sales for the period was largely driven by a 34.3% increase in pairs sold to internet based retailers when compared to the first quarter of 2012. The company reported net earnings from continuing operations of $268,000 compared to net earnings from continuing operations of $261,000 for the first quarter of fiscal 2012. Basic and diluted earnings' per share for the first quarter of fiscal 2013 and 2012 was $0.03 and $0.02, respectively.

Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations for the first three months of fiscal 2013 improved to $510,000 compared to $484,000 in the year ago period. Operating income was $460,000 against $438,000 a year ago period. Net earnings were $259,000 or $0.02 per diluted share against net earnings of $260,000 or $0.02 per diluted share a year ago period.