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Talon International Q4 sales rise 10.7%
29
Mar '13
Talon International, Inc., a leading global supplier of zippers, apparel fasteners, trim and interlining products, reported financial results for the fourth quarter and year ended December 31, 2012.

Highlights
- Sales in the fourth quarter of 2012 -- $11.4 million; 10.7% greater than the same period in 2011.
- Sales in 2012 of $44.6 million -- a 7.0% increase over 2011.
- Gross profit for 2012 -- 32.4% of Sales; increasing $1.3 million from 2011.

Financial Results

Total sales for the fourth quarter ended December 31, 2012 were $11.4 million, reflecting a 10.7% increase above the same period in 2011. Total sales for the quarter include $5.0 million in Zipper sales, up approximately 4.2%, and $6.4 million in Trim sales, increasing 16.4% over the same period within 2011. Total sales for the year ended December 31, 2012 were $44.6 million, reflecting a 7.0% year-over-year increase from 2011.

Total sales for the year ended December 31, 2012 include Zipper sales of $22.1 million, as compared to $22.6 million for the same period in 2011; and Trim sales of $22.5 million in 2012, reflecting an increase from $19.0 million for the full year as compared to 2011. The sales gains reflect the addition of new specialty retail brands and new programs within key customer accounts.

These gains were partially offset by declines in the sales to mass merchandise and licensing customers. "Our sales efforts continue to focus on increasing sales to specialty apparel customers and to the private label brands within our mass merchandise customers. Our sales strength is with customers who demand superior quality, service, and product value," noted Mr. Schnell.

Gross profit for the quarter ended December 31, 2012 was $3.7 million or 32.3% of sales, as compared to $3.4 million for the same quarter in 2011. Gross profit for the year ended December 31, 2012 was $14.5 million or 32.4% of sales, as compared to $13.2 million for the year in 2011.

The gross profit increases for the quarter and year ended December 31, 2012 as compared to the same periods in 2011 were principally attributable to higher sales, an improved mix of higher-margin trim product sales, and a greater mix of sales to specialty retailers as opposed to discount mass merchandisers.

Operating expenses for the fourth quarter of 2012 were $3.6 million reflecting an increase of approximately $0.9 million from the operating expenses during the fourth quarter of 2011. Operating expenses for the year ended December 31, 2012 were $13.5 million, reflecting an increase of $1.6 million over the expenses for the year 2011.

Sales and marketing expenses for the quarter ended December 31, 2012 were $1.5 million and general and administrative expenses totaled $2.1 million. Sales and marketing expenses for the year ended December 31, 2012 were $5.0 million and general and administrative expenses for the year totaled $8.5 million. Sales and marketing expenses for the quarter and year ended

About Talon International, Inc.

Talon International, Inc. is a major supplier of customer zippers, complete trim solutions and stretch technology products to manufacturers of fashion apparel, specialty retailers, mass merchandisers, brand licensees and major retailers worldwide.

Talon International

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