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

Top 15 US fashion brands are collectively worth $70 bn

Fashion | On 22nd Jul 2018

Top 15 US fashion brands are collectively worth $70 bn

The top 15 American fashion brands are collectively worth close to...

Courtesy: Covestro

Textiles | On 22nd Jul 2018

Covestro's new products for waterproof textile coating

Covestro, which is among the largest polymer companies, has unveiled...

Evogene, IMAmt to work together in insect resistance

Textiles | On 22nd Jul 2018

Evogene, IMAmt to work together in insect resistance

Evogene, a leading biotechnology company developing novel products...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Arvind Saraf
Triveni Sarees

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

Binoy Ravjani
Hero's Fashion

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

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Eric Scholler
Groz-Beckert

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

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

Judy Frater
Somaiya Kala Vidya

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

Aditi Somani
Aditi Somani

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search