Ever-Glory sales surge 31.6% to $368.1mn in 2013

Balance Sheet and Cash Flow

As of December 31, 2013, Ever-Glory had approximately $27.8 million of cash and cash equivalents, compared to approximately $9.4 million as of December 31, 2012. Ever-Glory had working capital of approximately $35.9 million as of December 31, 2013, and outstanding bank loans of approximately $53.3 million as of December 31, 2013.

Ever-Glory International Group, Inc., a leading apparel supply chain manager and retailer based in China, reported its financial results for its #

 

Business Outlook

For the first quarter of 2014, Every-Glory anticipates total net sales in the range of $90 to $110 million and net income in the range of $2 to $3 million. For full year 2014, Every-Glory anticipates total net sales in the range of $420 to $470 million and net income in the range of $11 to $17 million. The full year revenue forecast is comprised of $160 to $180 million in anticipated wholesale revenue and $260 to $290 million in anticipated revenue from retail operations.

 

About Ever-Glory International Group, Inc.

Based in Nanjing, China, Ever-Glory International Group, Inc. is a leading apparel supply chain manager and retailer in China. Ever-Glory is the first Chinese apparel Company listed on the American Stock Exchange, and has a focus on middle-to-high grade casual wear, outerwear, and sportswear brands. Ever-Glory maintains global strategic partnerships in Europe, the United States, Japan and China, conducting business with several well-known brands and retail chain stores. In addition, Ever-Glory operates its own domestic chain of retail stores known as "LA GO GO".