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Delta Apparel's gross profit up 23.17% in Q1 FY16
15
Feb '16
Delta Apparel, a US based designer and merchandiser of branded apparel, reported a rise of 23.17 per cent in its gross profit to $18.8 million in the first quarter of fiscal 2016, ending on January 2, as compared to $15.3 million in the first quarter of the previous fiscal, according to a press statement released by the company.

Net sales for the first quarter of FY16 was reported to be $90.2 million as compared to $93.4 million in the corresponding quarter of last fiscal, a fall of 3.42 per cent.

The company reported a net income of $681,000 or $0.09 per diluted share in this period as compared to a net loss of $4.2 million or $0.53 per diluted share previously.

Total assets with the company were reported to be $324.41 million in this quarter as compared to $347.92 million in the same period last fiscal.

Commenting on the results, Robert Humphreys, chairman and CEO of Delta Apparel said, “Given all of the hard work our team has put in to implement our strategy of making Delta a more nimble and responsive company, our ability to operate profitably during the first quarter should come as no surprise.”

“We expect continued growth as the fiscal year continues. We remain focused on initiatives that should improve our profitability and provide avenues for further growth,” he added. (MCJ)

Fibre2Fashion News Desk – India

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