Home / Knowledge / News / Apparel/Garments / Superior Uniform Q2 diluted EPS zooms 147%
Superior Uniform Q2 diluted EPS zooms 147%
24
Jul '14
Superior Uniform Group, Inc., manufacturer of uniforms, career apparel and accessories, announced that for the second quarter ended June 30, 2014, sales were $53.2 million, compared with 2013 second quarter sales of $30.9 million. Net earnings were $3.9 million, or $0.57 per share (diluted), compared with earnings of $1.4 million, or $0.23 per share (diluted), in the 2013 second quarter.
 
Highlights: 
-Net Sales Increase 72.5%
-Record Earnings Per Share (Diluted) of $0.57 for the Quarter compared to $0.23 in the Same Quarter of 2013
-HPI Reports Net Sales of $17.6 million, an Increase of 93.6%
-The Office Gurus Reports Net Sales Increase of 47.2%
 
For the six months ended June 30, 2014, sales were $94.3 million, compared with sales of $61.8 million in the six months ended June 30, 2013. Net earnings for the six months ended June 30, 2014 were $5.1 million, or $0.75 per share (diluted), versus earnings of $2.7 million, or $0.43 per share (diluted), in the first six months of 2013.
 
Michael Benstock, chief executive officer, commented: "We are very pleased to report record earnings per share (diluted) in the current quarter of $0.57. Second quarter results exceeded our expectations, and we continue to be impressed by the strong performance of HPI since the acquisition in July 2013. HPI contributed $17.6 million to second quarter net sales in our Uniforms and Related Products segment. 
 
“The balance of our Uniforms and Related Products segment contributed an increase in net sales of $4.2 million, or 14.3%. Our Uniforms and Related Products segment, including HPI, had shipments of significant new programs with both a transportation customer and a large supermarket customer, which combined accounted for over $7 million of our increase in net sales.
 
"Obviously, several factors came together and were well aligned at the same time in order for us to deliver stellar results of this magnitude. While this level of earnings is not to be expected each quarter, our overall backlog in the Uniforms and Related Products segment remains very strong and we expect to continue to report strong earnings in this segment as we move forward.
 
"Our Remote Staffing Solutions segment continues to report meaningful 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 this business substantially.
 
"Our financial position remains very strong and coupled with an improving market position, we believe we can meet the demands of significant growth opportunities that lie ahead in all of our business segments."
 

Superior Uniform Group

Must ReadView All

Textiles | On 27th Aug 2016

French textile machinery makers to show at ITMA CITME

Seven French textile machinery manufacturers will showcase their...

courtesy: JLL

Apparel/Garments | On 27th Aug 2016

Indian cities clocking fastest retail growth: Report

Indian cities such as Bangalore, Hyderabad, Delhi and Pune are...

courtesy: Delta Galil

Fashion | On 27th Aug 2016

VF Corp completes sale of 3 brands to Delta Galil

VF Corporation, a global leader in the design, manufacture, marketing ...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Paolo Ocleppo
Sandvik Hyperion

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search