Home / Knowledge / News / Apparel/Garments / HAMP announces results for 12-months ended Dec 31
HAMP announces results for 12-months ended Dec 31
17
Mar '08
Hampshire Group Limited announced its 2007 results and that it has filed its annual report on Form 10-K for the year ended December 31, 2007 with the United States Securities and Exchange Commission. This press release should be read in conjunction with the filed annual report referred to in this release.

Results for the Twelve Months Ended December 31, 2007:
Net sales from continuing operations for the year ended December 31, 2007 decreased 5.8% to $310.8 million from $330.0 million for the prior year. The decrease was mainly driven by the general discontinuance of low margin products and a decline experienced during the first quarter of 2007 at our women's related sportswear division.

In addition, the Company experienced an increase in customer allowances during the fourth quarter of 2007 due to slow retail sales, resulting in heavy discounting by our retail partners in order to accelerate inventory liquidation, which was especially apparent in our women's knitwear division. Offsetting the sales volume decline was a 3.8% increase in the average unit selling price.

Income from continuing operations for the years ended December 31, 2007 and 2006 was $122,000 and $5.8 million, respectively, which included expenses associated with the previously announced Audit Committee investigation of $5.3 million and $6.2 million, respectively.

The decrease in income from continuing operations in 2007 was due mainly to higher customer allowances and seasonal reserves and higher non-cash rent expense associated with our new office lease, all of which had a disproportionate impact on the fourth quarter of 2007 somewhat offset by the decrease in investigation costs.

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Binoy Ravjani
Hero's Fashion

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

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Mark Paterson
Technical Absorbents Ltd

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mike Hoffman
Gildan Activewear SRL

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

Igor Chapurin
Chapurin

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search