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EPS slides 41.8% at Delta Apparel in Q3FY16
10
Aug '16
Courtesy: Delta Apparel
Courtesy: Delta Apparel
Earnings per diluted share at clothing retailer Delta Apparel slid 41.81 per cent year on year to $0.32 for its fiscal third quarter ended July 2, 2016.

“Excluding the $1.8 million pre-tax charge taken during the quarter, earnings would have been $0.50 per diluted share,” the company said.

Delta Apparel reported net sales of $111.6 million in the third quarter of fiscal 2016-17, down from $120.5 million in the prior fiscal's third quarter.

“While net sales in the third quarter were negatively impacted by continued weakness in the retail environment, gross margins expanded 150 basis points,” Delta Apparel informed.

For the first nine months of the current fiscal, net sales amounted to $310.9 million, also down from $328.9 million in the same period of prior fiscal.

In the nine month period, net income rose to $6.7 million, or $0.84 per diluted share, compared to $3.9 million, or $0.48 per diluted share, in the nine month period of earlier fiscal. (AR)

Fibre2fashion News Desk - India

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