Home / Knowledge / News / Apparel/Garments / Superior Uniform Q1 net sales surge 32.4%
Superior Uniform Q1 net sales surge 32.4%
05
May '14
Superior Uniform Group, Inc., announced the first quarter earnings, ending on March 31, 2014 were $1,218,000 or $0.18 per share (diluted) compared with $1,229,000 or $0.20 per share (diluted) reported for the quarter ended March 31, 2013.  Net sales for the 2014 first quarter were $41,027,000 compared with 2013 first quarter sales of $30,985,000.
 
Highlights:
-Net Sales Increase 32.4%
-HPI Direct Reports Net Sales of $10,712,000, an Increase of 34%
-The Office Gurus Reports Net Sales Increase of 48.3% 
 
Michael Benstock, Chief Executive Officer, commented, “We are very pleased to continue to report significant sales gains in both of our operating segments.  HPI Direct has continued with their very strong momentum since the acquisition last July reporting a 34% increase in their net sales in the first quarter versus their net sales for the first quarter of 2013. 
 
“Additionally, we have been working to build inventories for several very large customer programs that will begin shipping during the second quarter of 2014 for both HPI Direct and our legacy uniform business. Our current backlog of business is larger than it has ever been. Our Uniforms and Related Product segment net sales, exclusive of HPI Direct, were down moderately in the first quarter. 
 
“January and February were down more significantly and a portion of that decrease is due to the impact of severe weather.  We did begin to see a pickup in activity in March and were back on track with a nice increase in net sales during March even though our shipping was again adversely affected by winter storms in the last few days of the month. We look forward to reporting significant increases in net sales and earnings in this segment in the second quarter and as the year continues.
 
“Our Remote Staffing Solutions segment is happy to once again report significant growth in net sales as the market response has been very favorable to our service offerings and we believe there is room for us to continue to grow substantially in this segment.
 
“Our financial position remains very strong and will continue to allow us to meet the demands of significant growth in all of our business segments as we move forward.”
 

Superior Uniform Group

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Mohammad Hassan
Biax Fiberfilm

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

Mark Paterson
Technical Absorbents Ltd

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Ritu Kumar
Label Ritu Kumar

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search