Maidenform Brands Inc, a global branded marketer of intimate apparel announced financial results for the second quarter ended June 30, 2007.
Thomas J. Ward, Chief Executive Officer, stated, "I am pleased with our second quarter performance and our team's ability to drive strong earnings per share growth. We implemented three key actions in the quarter that further strengthened our position for long-term success."
"First, our focus on Maidenform's branded business led to low double-digit net sales growth in our branded wholesale business. Second, we improved consolidated gross margins by 220 basis points to 39.9% through our customer and product mix in the quarter, as well as sourcing initiatives."
"And last, we strengthened the balance sheet by refinancing our credit facility with significantly lower rates, while maintaining financial flexibility to execute future growth."
Financial Results for Second Quarter 2007 versus Second Quarter 2006: Net sales for the second quarter of 2007 increased $1.9 million, or 1.6%, to $119.0 million. Wholesale segment net sales in the second quarter of 2007 increased $2.6 million, or 2.5%, to $105.2 million.
Total international sales, which are included in the wholesale segment, rose $1.5 million, or 17.0%, to $10.3 million. Retail segment net sales decreased $0.7 million, or 4.8%, to $13.8 million in the second quarter of 2007.
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
