Eroding prices impact Delta Galil's Q4 sales result

16 Mar '06

4 min read

Global provider of private label ladies' intimate apparel, socks, men's underwear, baby-wear and leisurewear, Delta Galil Industries Ltd reported fourth quarter 2005 revenues of $170.2 million, an increase of 2 percent compared to the $167.2 million in revenues reported in the fourth quarter of 2004.

Revenues in the fourth quarter excluding Burlen, which was acquired in the fourth quarter of 2004, decreased by 10 percent compared to the same period in 2004.

Revenues in 2005 increased by 5 percent to $684.5 million, compared to $654.3 in 2004.

Revenues, excluding Burlen, decreased by 11 percent compared to 2004.

Net loss for the fourth quarter of 2005 was $7.6 million or $0.41 diluted loss per share, compared to a net loss of $0.2 million or $0.01 diluted loss per share in the fourth quarter last year.

Net loss in 2005 was $36.3 million or $1.94 diluted loss per share, compared to net income of $12.7 million or $0.67 diluted earning per share in 2004.

Net loss in 2005 includes reorganization expenses, impairment of fixed assets and goodwill and capital loss from realization of assets net of other income in the amount of $20.8 million ($1.11 diluted loss per share), or $21.8 million before tax.

Excluding reorganization expenses, impairment of fixed assets and goodwill and the capital loss from the realization of assets net of other income, as noted, net loss for 2005 would have been $15.5 million or $0.83 dilutedloss per share.

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