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Delta Apparel expects 12% rise in Q1FY19 sales

18
Jan '19
Courtesy: Delta Apparel
Courtesy: Delta Apparel
Delta Apparel, a leading provider of core activewear and lifestyle apparel, is anticipating net sales for the first quarter of fiscal 2019 to come in ahead of expectations at around $101 million, or about a 12 per cent rise from prior year sales of $90.3 million. The company has released its preliminary results for the first quarter ended December 29, 2018.

The growth was driven by solid double-digit gains in the Company’s Salt Life business, as well as in its digital print business, which successfully completed its first holiday season with consolidated operations including the DTG2Go and SSI Digital Print businesses acquired in the last 10 months.

The company expects earnings per share for the quarter to be above the prior year period’s reported earnings per share. Results during the first quarter of fiscal year 2019 were impacted by a discrete expense of $2.5 million associated with the resolution of litigation stemming from The Sports Authority's March 2016 bankruptcy.  The company estimates adjusted earnings per share for the quarter to be approximately in line with prior year adjusted results of $0.08 after excluding the financial impact of this expense and the impact of United States tax reform legislation. 

"We are pleased with our start to the new fiscal year and the broad-based momentum we are seeing across our business segments. We have delivered sequential growth in our Salt Life Group, and our Delta Group continues its strong expansion driven by our DTG2Go digital print business. We look forward to providing our full results for the first quarter during our upcoming earnings call," Robert W Humphreys, Delta Apparel, Inc.’s chairman and chief executive officer, said.

Final and complete financial results for the fiscal year 2019 first quarter ended December 29, 2018, will be released after the market close on February 4, 2019. (RR)

Fibre2Fashion News Desk – India


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