Home / Knowledge / News / Textiles / PGI continues to achieve solid improvement in Q3
PGI continues to achieve solid improvement in Q3
13
Nov '09
Polymer Group, Inc. reported results of operations for the third quarter and nine-month period ended October 3, 2009.

Highlights included:br>
• Gross profit for the quarter was up 16.4% over the prior year to $47.2million and up 10.1% for the nine-month period to $139.2 million. As a result of lower sales due to lower selling prices and lower volumes,gross profit margins were 21.2% and 21.8% for the three-month and nine-month period compared to 14.3% and 15.6%, respectively, for the prior year.
• Operating income from continuing operations for the third quarter of 2009 increased 148.9% over the same period the prior year to $18.7 million. Year-to-date, operating income from continuing operations increased 60.9% over the first nine months of 2008.
• For the year-to-date period, cashflow from operations increased 131.2% to $79.5 million.
• Following finalization of the sale of the FabPro division and the amendment to the company's senior credit facility, net debt (defined as total debt less cash balances) was $289.5 million at the end of the third quarter, approximately $100 million lower than the third quarter 2008 level of $388.9 million.
• The company continued to execute on its growth strategy with the purchase of the minority portion of its joint venture in Argentina and the signing of a definitive agreement to purchase a nonwovens business in Spain. Additionally, the company's new state-of-the-art capacity in Mexico was in full commercial production during the third quarter.

Click here for more details.

Polymer Group Inc


Must ReadView All

'Sportswear is much more mainstream than earlier'

Fashion | On 20th Jul 2018

'Sportswear is much more mainstream than earlier'

The business of sportswear has evolved at a fast pace over the years. ...

Courtesy: YKK

Textiles | On 20th Jul 2018

Japanese firm YKK explores opening office in Uzbekistan

Japanese company YKK recently discussed with the Uztuqimachiliksanoat ...

HFPA alerts member firms on latest US tariff announcement

Textiles | On 20th Jul 2018

HFPA alerts member firms on latest US tariff announcement

The US Home Fashion Products Association (HFPA) has alerted its...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search