Home / Knowledge / News / Apparel/Garments / Increase of 22.2% in seamless apparel sales at Tefron
Increase of 22.2% in seamless apparel sales at Tefron
21
Aug '12
Tefron reports strong improvement in operating and net profit in the second quarter and first half of 2012 and first positive quarterly cash flow in six quarters.
 
Financial highlights:
• Operating profit in the second quarter of 2012 totaled $149 thousand in comparison to operating loss in the amount of $1.3 million in the corresponding period last year .
• EBITDA in the second quarter of 2012 totaled $1.6 million compared to $0.5 million in the corresponding period last year.
• Net income for second quarter of 2012 totals $1.3 million, or 20 cents diluted earnings per share including a tax benefit of $1.1 million, compared to a net loss of $1.7 million in the same period in 2011
• Cash flow from operating activities for the second quarter totaled $3.2 million, compared to a negative cash flow of $1.5 million in the second quarter of 2011.
• Operating profit in the first half of 2012 totaled $256 thousand in comparison to operating loss in the amount of $3.2 million in the corresponding period last year.
• EBITDA in the first half of 2012 totaled $3.0 million in comparison to $0.8 million in the corresponding period last year.
• Net income for the first six months of 2012 totaled $477 thousand, or 7 cents diluted earnings per share compared to a loss of $4.0 million in the first half of 2011.
• Cash flow from operating activities totaled $0.6 million in the first half of 2012 compared to negative cash flow of $9.2 million in the first six months of 2011.

Commenting on developments at Tefron in the period, Amit Meridor, Tefron's  CEO said: "In the second quarter of 2012, Tefron recorded an increase of 22.2% in the seamless apparel sector sales. This very positive operational result, as well as the stronger financial results we reported are a direct outcome of the  large scale investments that we have made at Tefron over the past two years, particularly in the development of new products and the improvement in product mix. These important investments, combined with our advance production capabilities in Israel and more recently established production operations in China, have enabled Tefron to offer a full and competitive basket of solutions to customers and to solidify our position as the global leader in seamless technology.

During Tefron's recent turnaround period, we have made major improvements in production efficiencies and, equally important, we have worked to establish a culture of streamlining costs at all levels.  These efforts have allowed us to stay competitive and turn a positive operating profit and net profit despite the increase in the price of raw materials and additional costs.

 


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Larry L Kinn
Suominen Corporation

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Anisha Chaudhari
Threads & Shirts

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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