Home / Knowledge / News / Apparel/Garments / Net sales up in second quarter at Superior Uniform Group
Net sales up in second quarter at Superior Uniform Group
01
Aug '11
Superior Uniform Group Inc, manufacturer of uniforms, career apparel and accessories, announced that for the second quarter ended June 30, 2011, sales were $27,505,656, compared with 2010 second quarter sales of $26,629,161. Net earnings were $932,399 or $.15 per share (diluted), compared with earnings of $983,170 or $.17 per share (diluted) in the 2010 second quarter.

For the six months ended June 30, 2011, sales were $54,404,256, compared with sales of $52,609,023 in the six months ended June 30, 2010. Net earnings for the six months ended June 30, 2011 were $1,531,321 or $.25 per share (diluted), versus earnings of $1,491,387 or $.25 per share (diluted) in the first six months of 2010.

Michael Benstock, Chief Executive Officer, commented: “We are very pleased to report increases of 3.3% in our net sales in the second quarter. Net earnings for the quarter were down slightly at $.15 per share (diluted), compared with $.17 per share (diluted) in the 2010 second quarter. We completed a significant consulting project in the second quarter as part of our ongoing strategic plan. This project, performed by a major international consulting firm, involved a detailed market analysis of our customers' requirements, our internal capability strengths and gaps and development of a roadmap to capitalize on the opportunities identified in the future.

The total pre-tax cost of this project was approximately $550,000 and resulted in a reduction of net earnings per share (diluted) of approximately $.06 per share in the second quarter of 2011. Additionally, as we previously announced, we launched our new division, everyBODY media during the first quarter of this year. Our operating results include approximately $330,000 of pre-tax expenses for the second quarter associated with this new venture. We are receiving favorable responses from the market relative to the concept and expect to begin generating revenues from this division in the fourth quarter of this year.

We continue to show significant growth in revenues from our near-shore call center business, The Office Gurus. Net sales for the second quarter of 2011 were $667,000 compared to $68,000 in the prior year second quarter. We expect to substantially grow this vertical going forward. Our financial position remains very strong and continues to provide us with the ability to invest in our existing business as well as new ventures such as everyBODY media and The Office Gurus and to continue to explore strategic acquisitions.”

Superior Uniform Group Inc


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search