Delta Apparel Q4 EPS rises, to open textile plant in Honduras

18 Aug '06

4 min read

Humphreys concluded, "As we move into our 2007 fiscal year, we believe we have an exciting and balanced product portfolio that will appeal to our growing customer base. We remain focused on increasing shareholder value and will continue exploring internal growth initiatives, diversifying our product offering, improving our operating efficiencies and identifying cost saving opportunities in each of our key business segments to grow sales and maximize our performance in fiscal year 2007 and beyond."

The company will continue to issue earnings guidance of its sales and earnings expectations in fiscal year 2007. It has decided to change its earnings guidance to diluted earnings per share from the prior practice of issuing guidance based on basic earnings per share.

The company's earnings guidance includes the anticipated acquisition of Fun-Tees Inc on or around October 2nd 2006. In addition, it expects to record an extraordinary gain in its first fiscal quarter associated with the final earn-out payment made to the former M J Soffe shareholders. This anticipated extraordinary gain is also included in the earnings guidance for the first fiscal quarter and fiscal year guidance.

For the first fiscal quarter ended September 30th 2006, the company expects sales to be in the range of $64 to $68 million and diluted earnings per share to be in the range of $0.41 to $0.45 per share. This compares to prior year fiscal first quarter sales of $60.6 millionand diluted earnings of $0.39 per share.

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