Delta Galil intimate apparel sales fall in US & Europe for Q2

17 Aug '07
4 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 second quarter, which ended June 30, 2007.

• Second quarter revenues were $149.8 million compared to $176.5 million reported in the second quarter of 2006, a decrease of 15.1%.
• First half revenues were $309.2 million compared to $348.5 million reported in the first half of 2006, a decrease of 11.3%.
• Second quarter operating loss was $0.1 million, compared to an operating income of $5.9 million reported in the second quarter of 2006.
• First half operating loss was $8.7 million, compared to an operating income of $9.0 million in the first half of 2006. Operating income before restructuring expenses in the first half of 2007 was $2.1 million compared to $10.7 million in the first half of 2006.
• Second quarter net loss was $3.4 million, or $0.18 per diluted share, compared to a net income of $0.5 million, or $0.03 per diluted share reported in the second quarter of 2006.
• First half net loss was $16.6 million, or $0.89 per diluted share, compared to a loss of $0.5 million, or $0.03 per diluted share in the first half of 2006.

Net loss before restructuring expenses in the first half of 2007 was $5.8 million, or $0.31 per diluted share, compared to a net income before restructuring expenses of $1.2 million, or $0.06 per diluted share in the first half of 2006.

• In the second quarter of 2007 the Company had negative operating cash flow of $4.2 million, compared to positive operating cash flow of $14.7 million in the second quarter of 2006.

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