Clothes and accessories company Kenneth Cole Productions Inc (KCP), which is considering a takeover offer from its founder American clothing designer Kenneth Cole, posted a quarterly profit compared with a year-ago loss, helped by a rise in wholesale revenues.

Net income for the fourth quarter was $8 million, or 43 cents a share, compared with a loss of $2.7 million, or 15 cents a share, last year.

The company, founded by Cole in 1982, said revenue rose 8.6% to $131.2 million.

Wholesale revenue shot up 47% to $62.3 million.

Shares of the New York-based company closed at $15.69 on Wednesday on the New York Stock Exchange.