Home / Knowledge / News / Apparel/Garments / Sales up 6% at Delta Galil Industries in H1
Sales up 6% at Delta Galil Industries in H1
13
Aug '12
Delta Galil Industries, Ltd., the global manufacturer and marketer of branded and private label apparel products for men, women and children, reported its financial results for the second quarter of 2012.

Delta Galil reported sales for the second quarter of 2012 of $169.1 million, compared to $160.2 million in the same quarter of 2011, an increase of 6%. Sales in the first six months of 2012 also increased by 6% and amounted to $337.2 million, compared to $317.6 million in the first half of 2011.

The increased sales in the second quarter and first half of 2012 compared to the corresponding periods last year were due primarily to higher sales in North America.

Operating income before capital gains and one-time items amounted to $8.8 million in the second quarter of 2012, compared to $7.9 million in the second quarter of 2011, a 12% increase. In the first half of 2012, operating income before one-time items amounted to $15.2 million, compared to $11.9 million in the first half of 2011, a 28% increase.

Net income attributed to shareholders before capital gains and one-time items, net after tax, was $6.1 million in the second quarter of 2012, compared to $ 5.6 million in the same quarter of last year, a 9% increase. For the first six months of 2012, net income attributed to shareholders before capital gains and one-time items, net after tax, was $10.0 million, rising 16% from $8.6 million in the same period of 2011.

Diluted earnings per share attributed to shareholders, excluding capital gains and one-time items, was $0.25 for the 2012 second quarter and $0.41 for six months. In the second quarter and first six months of 2011, the comparable amounts were $0.24 and $0.35, respectively.

Results for the second quarter and first half of 2012 included the following capital gains and one-time items: i) a capital gain of $19.9 million from the sale of real estate; ii) expenses of $1.2 million arising from the acquisition of Schiesser Group; iii) a write-down of unused fixed assets of $1.3 million; and iv) restructuring expenses of $3.0 million, due to efficiency actions that included the consolidation of production sites at Karmiel, Israel and the relocation of the logistics center to Caesarea.

The total of all the one-time items included in operating income in the second quarter and first half of 2012 was positive $14.4 million. This compared to income from one-time items of $3.6 million in the first half of 2011, reflecting capital gains from realization of a fixed asset and the sale of a franchising agreement.

CEO Comment: Branded Products, Global Markets Drive Growth

Isaac Dabah, CEO of Delta Galil, stated: “We have continued our growth strategy of building a solid offering of branded products and pursuing opportunities in a range of international markets. As a result, we have delivered an increase in sales for the 11th consecutive quarter.

“The Company’s performance in the quarter reflected the strong business with our biggest customers, which drove solid top-line growth, especially in the U.S. market. In the second half of this year, we expect to benefit from our investment in Schiesser Group, an acquisition that we completed on July 2nd, 2012, which gives us an even greater presence in branded products and in new global markets.”

Must ReadView All

Apparel/Garments | On 25th May 2017

AAFA reinforces opposition to Border Adjustment Tax

The American Apparel & Footwear Association (AAFA) has reinforced its ...

Textiles | On 25th May 2017

Schlafhorst launches 2.5 millionth Autoconer unit

Schlafhorst, Germany’s leading textile machinery firm, has announced...

Textiles | On 25th May 2017

Mexican textile firm installs Monforts Montex 6500 stenter

Tizayuca Textil Vuva SA de CV, a vertically integrated producer of...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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