Home / Knowledge / News / Apparel/Garments / Seamless intimate apparel producer posts Q4 2007 results
Seamless intimate apparel producer posts Q4 2007 results
Mar '08
Tefron Ltd announced financial results for the fourth quarter and full year 2007. Fourth quarter revenues were $38.9 million, representing a 22.2% decrease from fourth quarter of 2006 revenues of $50.0 million. The decrease in revenues in the quarter was due to a reduction in sales of active-wear products, primarily to Nike, a reduction in sales of intimate apparel, mainly to Victoria's Secret for older Cut & Sew collections and lower sales of swimwear, mainly due to the delay of some swimwear revenues to the first quarter of 2008.

Fourth quarter gross margin was 5.4% compared with a gross margin of 22.2% in the fourth quarter of 2006. Operating loss for the quarter was $2.8 million, as compared with an operating income of $6.4 million (12.9% of revenues) in the fourth quarter of 2006. Net loss for the quarter was $2.4 million, or $0.11 per diluted share as compared with net income of $4.7 million (9.3% of revenues), or $0.22 per diluted share, in the fourth quarter of 2006.

The decline in gross margin and the operating loss in the quarter were primarily due to the lower revenue and manufacturing levels, increased costs due to factors described below and a one-time inventory write-off of approximately $0.7 million related to obsolete inventory.

The significant devaluation of the US Dollar versus the New Israeli Shekel, as well as the previously identified price reductions in older collections of Tefron's intimate apparel product line also continued to impact margins. Additionally, the higher proportion of Cut & Sew 'new generation' products in the sales mix for Nike, which have a lower

Must ReadView All

Textiles | On 22nd May 2017

GST to be biggest achievement of Modi govt: ASSOCHAM

Goods and Services Tax (GST) which is near a roll-out would be the...

Textiles | On 22nd May 2017

Maintaining NAFTA benefits is crucial: Cotton council

The US must remain a participant in a vibrant North American Free...

Apparel/Garments | On 22nd May 2017

Retailers ask Congress not to go for consumption tax

The National Retail Federation has asked US Congress to focus on...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


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