Home / Knowledge / News / Apparel/Garments / Apparel accessories supplier Talon Q2 sales surge 26.3%
Apparel accessories supplier Talon Q2 sales surge 26.3%
13
Aug '13
Talon International, a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, reported financial results for the second quarter and six months ended June 30, 2013.

Second Quarter 2013 Highlights:

-Net sales were $16.6 million, up 26.3% over the same period in 2012, reflecting higher sales across all three product lines.
-Income from operations was $1.6 million, up 63.0% compared to the prior year.
-Net income was $1.3 million, up 88.1% from 2012.
-Subsequent to the end of the quarter, the Company redeemed all the outstanding shares of its preferred stock.

Second Quarter 2013 Financial Results

Sales for the quarter ended June 30, 2013 were $16.6 million, reflecting a 26.3% increase over the same period in 2012. Sales for the second quarter of 2013 included zipper sales of $9.5 million, up 37.9% from the second quarter of 2012, and Trim sales of $7.1 million, up 13.4% from the prior year period.

In addition, sales of the Company's advanced fabric technology TekFit increased 40.9% over the same period last year, albeit off a small base. The sales gains reflect increased business from Talon's current customers as well as the addition of new brands and retailers to the Company's customer base.

"We are pleased with our second quarter results, and our ability to deliver our fourth consecutive double-digit, quarterly increase in revenues over the prior-year results," noted Lonnie Schnell, Talon's CEO. "This year we have continued to execute on our vision for Talon's future by expanding our global sales teams and opening new sales offices in Europe and Asia.

We are capitalizing on the opportunities we see to expand our reach and enter into new and promising geographies. Importantly, now that we have successfully eliminated the preferred stock liabilities, we are better capitalized, and even better positioned, to compete and grow significantly."

Gross profit for the second quarter of 2013 was $5.6 million, or 33.4% of sales, as compared to $4.4 million, or 33.1% of sales, for the same quarter in 2012. The increase in gross profit was primarily attributable to greater overall sales volumes.

Operating expenses for the second quarter of 2013 were $4.0 million, or 23.8% of sales, as compared to $3.4 million, or 25.7% of sales, in the second quarter of 2012. Sales and marketing expenses of $1.5 million increased 31.4% from the same quarter in 2012 reflecting continued investment in strengthening Talon's sales force in the U.S., Europe and Asia and increased sales commissions associated with the higher sales volumes. General and administrative expenses for the period totaled $2.4 million, an increase of 9.6%, attributable to higher net compensation costs.

Net income for the quarter ended June 30, 2013 was $1,263,000 as compared to net income of $671,000 for the same quarter in 2012.


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

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

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Steve Cole
Xerium Technologies

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ritu Kumar
Label Ritu Kumar

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

Bani Batra

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

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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