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Tefron profit jumps 83% in Q4 of 2011

02
Apr '12
Tefron Ltd announces result for the financial year 2011.

• For the first time after 17 continuous quarters Tefron records a positive net profit in the final quarter of the year
• The company shows a net profit of approximately 0.3 million dollars in the fourth quarter against a loss of approximately 14.4 million dollars during the parallel period.

Tefron's Results for the Fourth Quarter and for the Whole of 2011:

The company's sales in the fourth quarter of 2011 totaled 31.5 million dollars, an increase of 82% against 17.3 million dollars during the parallel period last year. The company's sales in 2011 totaled 118.4 million dollars, an increase of 37.6% against 86.0 million dollars in 2010.

Amit Meridor, Tefron's CEO: "Tefron is investing a great deal in the development of new technologies in order to place it as a world leader in the seamless field for several years to come."

Additional Prominent Statistics for 2011:
• An increase of approximately 15.9 million dollars in the gross profit for 2011.
• An increase of approximately 9.3 million dollars in the EBITDA section in 2011.
• A reduction of approximately 85% in the operative loss in 2011.

Amit Merido, Tefron's CEO: "The results of the fourth quarter continue the trend of the substantial change which took place in the company since the beginning of 2010 and we are proud of the substantial changes in the company's gross profit and the net profit. Together with the significant improvement in the operative results, the company increased the scope of its investments in development and the sales network.”

'The company invested in new technologies, in the promotion of the strategic merger with Cifra from Italy and in focusing resources to reinforce the company's status among its main customers. Tefron is one of the few companies in the world which supplies its customers with a basket of products which is built up from advanced developments based on new technologies. The company supplies competitive and high quality effective manufacture from Israel and at the same time since 2011 it supplies large quantities of cheap products from the Far East. Tefron's many investments in the development of new technologies and in unique collaboration place it as the leading company in the world in the seamless field for several years to come".

Arnon Teiberg, Tefron's Chairman: "The results of the fourth quarter reinforce Tefron in the path it has chosen on the way to becoming the largest and leading company in the world in the seamless field. The company's capability which it founded in 2011 to supply a range of products from the Far East enabled Tefron to significantly increase the basket of products and solutions for customers.”

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Tefron Ltd


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