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Ever-Glory continues to generate record revenues & profits
12 Mar '08
4 min read
At the end of 2007, total annual production capacity was 9.0 million garment pieces, up from 7.0 million garment pieces at the end of 2006.
The increase was related to the Company's new factory and corporate headquarters in the Nanjing Jiangning Economic and Technological Development Zone in Nanjing, higher levels of outsourced production and the acquisitions of New- Tailun and Nanjing Catch-Luck.
As of December 31, 2007, the company had $0.6 million in cash and cash equivalents, $9.5 million in working capital. The Company generated positive operating cash flow of $1.9 million during the year. As of December 31, 2007,
stockholders' equity stood at $19.9 million, up from $9.8 million on December 31, 2006.
In December 2007, the Company completed a 10-for-1 reverse stock split, bringing the total number of outstanding shares to approximately 11.4 million.
In January 2008, Ever-Glory launched its private-label LA GO GO brand, which provides stylish fashion and accessories to young, professional women.
"As we head into 2008, we are working to make domestic growth in China a major part of our strategy and to launch the retail and wholesale distribution of our youth lifestyle and fashion products under our own brands in China," Mr. Kang said.
"Our new LA GO GO brand is currently in the registration process and is positioned in the tremendous Chinese market of young women's casual wear and fashions.
We will set up our retail channels around the major developed cities in China through the assistance of our strategic partner, Shanghai La Chapelle Garments Co Ltd, which has developed more than 360 retail outlets nationwide. We hope to move toward our goal of 60 stores by the end of this year."
The company will host a conference call at 9:00 a.m. EDT on, Wednesday, March 12, 2008, to discuss its financial results for the fiscal year ended December 31, 2007.
The increase was related to the Company's new factory and corporate headquarters in the Nanjing Jiangning Economic and Technological Development Zone in Nanjing, higher levels of outsourced production and the acquisitions of New- Tailun and Nanjing Catch-Luck.
As of December 31, 2007, the company had $0.6 million in cash and cash equivalents, $9.5 million in working capital. The Company generated positive operating cash flow of $1.9 million during the year. As of December 31, 2007,
stockholders' equity stood at $19.9 million, up from $9.8 million on December 31, 2006.
In December 2007, the Company completed a 10-for-1 reverse stock split, bringing the total number of outstanding shares to approximately 11.4 million.
In January 2008, Ever-Glory launched its private-label LA GO GO brand, which provides stylish fashion and accessories to young, professional women.
"As we head into 2008, we are working to make domestic growth in China a major part of our strategy and to launch the retail and wholesale distribution of our youth lifestyle and fashion products under our own brands in China," Mr. Kang said.
"Our new LA GO GO brand is currently in the registration process and is positioned in the tremendous Chinese market of young women's casual wear and fashions.
We will set up our retail channels around the major developed cities in China through the assistance of our strategic partner, Shanghai La Chapelle Garments Co Ltd, which has developed more than 360 retail outlets nationwide. We hope to move toward our goal of 60 stores by the end of this year."
The company will host a conference call at 9:00 a.m. EDT on, Wednesday, March 12, 2008, to discuss its financial results for the fiscal year ended December 31, 2007.
Ever-Glory International Group Inc
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