Home / Knowledge / News / Apparel/Garments / Antigua posts financial results for fiscal year ended April 30
Antigua posts financial results for fiscal year ended April 30
09
Sep '08
Antigua Enterprises Inc announces financial results for the year ended April 30, 2008.

Like many companies, Antigua's operating results and financial condition in 2008 were negatively affected by the unfavorable economic climate of the past fiscal year, resulting in a net loss of $1.9 million (which becomes net income of $0.9 million when adjusted for non-cash charges). However, Antigua effectively maintained the presence of its brand in the marketplace and increased its top line revenue over fiscal year 2007.

Antigua's sales for fiscal year 2008 were $53.6 million versus $51.4 million in 2007, an increase of 4.2%. The sales growth was driven by the Golf and Licensed Sports divisions. Golf division sales grew $1.1 million, or 8%, over 2007. Licensed division sales grew $1.6 million, or 7%, over 2007. Unfortunately, these gains were partially offset by a $1.0 million decline in sales for the Corporate division, which was 8.7% below 2007.

Antigua's sales grew during the first half of fiscal year 2008, but slowed in the second half of the year as customers tightened inventory buys in response to the economic downturn.

The Company undertook an impairment review which resulted in a write off of goodwill and a non-cash charge of $4.6 million. This charge resulted in a net loss of $1.9 million for fiscal 2008.

Excluding the effects of the goodwill impairment, adjusted earnings were $0.9 million. Although significant, this goodwill impairment non-cash charge did not affect Antigua's cash flows from operations, liquidity, or debt covenants, and is not expected to impact Antigua's future operations.

Antigua Enterprises Inc


Must ReadView All

UK retail firms urge Hammond to ease business rates burden

Textiles | On 20th Nov 2017

UK retail firms urge Hammond to ease business rates burden

Top British retail company CEOs have urged UK finance minister...

L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)

Textiles | On 20th Nov 2017

Promoters of Donear Group acquire OCM Woolen Mills

The promoters of Mumbai-based Donear Group have announced the...

Courtesy: Cornell

Textiles | On 20th Nov 2017

Cornell’s tech allows customisation of woven fabrics

Cornell Professor Steve Marschner and Rhode Island School of Design...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Aditi Somani
Aditi Somani

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

Mike Hoffman
Gildan Activewear SRL

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

Karan Arora
Karan Arora

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

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

November 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
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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