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

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Tim Savage from Pexels

Textiles | On 19th Jun 2018

Da Lat begins construction of $50mn wool yarn factory

Da Lat Worsted Spinning Limited Company has begun construction of a...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Steve Cole
Xerium Technologies

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

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

Akta Adani
India Boulevard

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search