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

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Urs Stalder
Sanitized AG

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

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

Sanjukta Dutta
Sanjukta's Studio

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

Sonam & Paras Modi
SVA

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

July 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

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

Yes No

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

Yes No

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


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



X