Home / Knowledge / News / Apparel/Garments / Gloves manufacturer Ironclad sustains sales growth
Gloves manufacturer Ironclad sustains sales growth
17
May '08
Ironclad Performance Wear Corporation, a leader in high-performance gloves and apparel, reported financial results for the first quarter ended March 31, 2008.

Net sales for the first quarter of 2008 were $1,851,103, essentially flat when compared to $1,849,932 from the corresponding period in 2007.

Gross profit for the first quarter of 2008 was $793,997, a decrease of approximately 14% versus $924,552 from the corresponding period in 2007. The decrease in gross profit for the quarter was due in large part to an increase in accruals for product returns of 4.5% (primarily from one customer), and a change in the product and customer sales mix that resulted in lower average selling prices of approximately 2.4%.

However, these were offset by a 0.9% benefit from relocating apparel production to overseas factories. In the first quarter of 2007 the Company benefited from a one time special purchase of inventory that increased gross profit by 1%.

"Despite a challenging economic environment and rising raw material costs, primarily from petroleum, we're pleased that we continued to achieve sales growth for the tenth consecutive quarter," said Ed Jaeger, President and CEO of Ironclad.

Operating expenses for the first quarter of 2008 were $1,919,189, a decrease of 8.8% versus $2,105,297 from the first quarter of 2007. The improvement in operating expenses was primarily related to increased operating efficiencies within SG&A, as well as lower legal and accounting costs.


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Amit Jain
Shingora Textiles Ltd

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

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Yash P. Kotak
Bombay Hemp Company

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


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