Home / Knowledge / News / Apparel/Garments / Delta Galil Q1 operating income boosts 28% to $14.8mn
Delta Galil Q1 operating income boosts 28% to $14.8mn
08
May '14
Delta Galil Industries, Ltd., the global manufacturer and marketer of branded and private label apparel products for men, women and children, reported its financial results for the first quarter ended March 31, 2014.
 
The Company reported sales of $238.1 million for the first quarter of 2014, up from $227.3 million for the same quarter last year, an increase of 5%.
 
Operating income was $14.8 million for first quarter 2014, up 28% from $11.6 million in the same quarter of 2013.
 
A key contributor to the higher operating income was an expanding gross profit margin, which rose to 30.4% in the 2014 first quarter from 28.4% a year ago. This was partly offset by higher selling and marketing expenses as Delta Galil invested in the growth of its business.
 
Net income attributable to shareholders was $8.7 million in the 2014 first quarter, compared to $6.6 million in the same quarter of 2013, a 32% increase. Diluted earnings per share attributed to shareholders were $0.34 for the 2014 first quarter, up from $0.26 for the 2013 first quarter.
 
Quarterly Highlights
-Sales increased to $238.1 million in the 2014 first quarter, up 5% from the same period of 2013.
-Delta Galil delivered its 18th consecutive quarter of year-over-year organic sales growth.
Operating income was $14.8 million in the 2014 first quarter, growing 28% from the comparable amount a year ago.
-EBITDA was $19.0 million or 8.0% of sales in the 2014 first quarter, increasing 21% compared with $15.8 million or 6.9% of sales in the same quarter of 2013.
-Net income attributed to shareholders rose to $8.7 million in the 2014 first quarter, increasing 32% from the comparable amount in 2013.
-Diluted earnings per share attributed to shareholders increased to $0.34 for the 2014 first quarter, up 30% from the comparable amount of $0.26 a year ago.
-Financial guidance for 2014 increased: sales are now expected to be $1,045 million-$1,075 million, up from prior forecast of $1,035 million- $1,065 million. Full-year 2014 EBITDA is expected to range between $95 million-$101 million, up from prior forecast of $93 million-$99 million. Full-year 2014 diluted EPS is expected to be $1.95- $2.14, up from prior forecast of $1.93-$2.11.
-The Board of Directors declared a dividend of $3.5 million or $0.141 per share, to be distributed on May 28, 2014, which is an increase over the previous dividend rate of $0.121. The determining and "ex-dividend" date will be May 15, 2014, per the Tel Aviv Stock Exchange.
-Strong balance sheet was highlighted by a record $328.6 million in equity as of March 31, 2014, and $51.2 million in cash.
 

Must ReadView All

Apparel/Garments | On 18th Feb 2017

Bangladesh apparel sector has 95% local investors: BGMEA

Over 95 per cent of the total investors in the Bangladesh apparel...

Textiles | On 18th Feb 2017

Smriti Irani resolves cutting of carpets issue at ports

During a meeting held with stake holders of the carpet weaving...

Apparel/Garments | On 18th Feb 2017

Andhra Pradesh inks MoUs to set up 12 apparel units

At the recent CII Partnership Summit held in Hyderabad, memorandum of ...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

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...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search