Apparel maker Delta Galil Q2 revenues up 7% to $168.9mn
10 Aug '05
2 min read
Tel Aviv based apparel maker Delta Galil Industries Ltd reported that second quarter 2005 revenues rose 7 percent to $168.9 million, compared to $158.5 million in the second quarter of 2004. Revenues, excluding sales from Burlen, which was acquired in December 2004, decreased by 8 percent, compared to the second quarter of 2004.
In the first six months of 2005, sales increased by 10 percent to $342.3 million, compared to $310.6 in the first half of 2004.
Revenues, excluding Burlen, in the first six months decreased by 9 percent, compared to the first six months last year.
Net loss and diluted loss per share for the second quarter were $3.0 million or $0.16 per share, compared to a net income of $3.7 million or $0.20 diluted earnings per share in the same period last year.
Net loss and diluted loss per share in the first half of 2005 amounted to $5.9 million or $0.32 per share, compared to a net income of $7.8 million or $0.41 per share for the same period last year.
Operating cash flow in the second quarter of 2005 was positive $10.0 million compared to negative operating cash flow of $4.5 million in the second quarter of 2004.
During the second quarter of 2005, Delta negotiated price reductions from its suppliers that expects will result in annual savings of approximately $15.0 million, beginning in the second half of 2005.
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