Delta Galil Socks division sales improve in Q3

19 Nov '07

3 min read

Delta Galil Industries Ltd the global provider of private label ladies' intimate apparel, socks, men's underwear and leisurewear reported results for the third quarter, which ended September 30, 2007.

• Third quarter revenues were $172.4 million compared to $184.0 million reported in the third quarter of 2006, a decrease of 6.3%.

• Revenues for the first nine months of 2007 were $481.5 million compared to $532.6 million reported in the first nine months of 2006, a decrease of 9.6%.

• Third quarter operating income was $7.7 million, compared to $8.2 million reported in the third quarter of 2006.

• Operating loss in the first nine months of 2007 was $0.9 million, compared to an operating income of $17.2 million in the first nine months of 2006. Operating income before restructuring expenses in the first nine months of 2007 was $9.9 million compared to $18.9 million in the first nine months of 2006.

• Third quarter net income was $2.9 million or $0.15 per diluted share, compared to a net income of $3.2 million, or $0.17 per diluted share reported in the third quarter of 2006.

• Net loss in the first nine months of 2007 was $13.8 million, or $0.73 per diluted share, compared to a net income of $2.7 million, or $0.15 per diluted share in the first nine months of 2006.

• Net loss before restructuring expenses in the first nine months of 2007 was $3.0 million, or $0.16 per diluted share, compared to a net income before restructuring expenses of $4.4 million, or $0.24 per diluted share in the first nine months of 2006.

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