Ever-Glory Q1 total sales boost 35.4% to $106mn

Balance Sheet and Cash Flow

As of March 31, 2014, Ever-Glory had approximately $26.7 million of cash and cash equivalents, compared to approximately $27.8 million as of December 31, 2013. Ever-Glory had working capital of approximately $34.2 million as of March 31, 2014, and outstanding bank loans of approximately $51.5 million as of March 31, 2014.

Ever-Glory International Group, Inc., a leading apparel supply chain manager and retailer based in China, reported its financial results for the #

 

Business Outlook

For the second quarter of 2014, Every-Glory anticipates total net sales in the range of $65 to $75 million and net income in the range of $1.5 to $2.0 million. For full year 2014, Every-Glory anticipates total net sales in the range of $420 to $470 million and net income in the range of $11 to $17 million. The full year revenue forecast is comprised of $160 to $180 million in anticipated wholesale revenue and $260 to $290 million in anticipated revenue from retail operations.

 

About Ever-Glory International Group, Inc.

Based in Nanjing, China, Ever-Glory International Group, Inc. is a leading apparel supply chain manager and retailer in China. Ever-Glory is the first Chinese apparel Company listed on the American Stock Exchange, and has a focus on middle-to-high grade casual wear, outerwear, and sportswear brands. Ever-Glory maintains global strategic partnerships in Europe, the United States, Japan and China, conducting business with several well-known brands and retail chain stores. In addition, Ever-Glory operates its own domestic chain of retail stores known as "LA GO GO".