Interviews
News Flash
Activewear producer Tefron sales drop in Q3
19 Nov '07
3 min read
In addition, the significant devaluation of the US Dollar versus the New Israeli Shekel, as well as the previously identified price reductions in older collections of Tefron's intimate apparel product line also continued to impact margins.
Results for First Nine Months of 2007:
Revenues in the first nine months of 2007 were $119.7 million, representing a 13.3% decrease from revenues of $138.1 million generated during the first nine months of 2006. The decline in revenue was due to a reduction in sales of intimate apparel and a significant reduction in sales of active-wear. This decline was slightly offset by an increase in sales of swimwear.
Gross margin in the first nine months of 2007 decreased to 14.5%, compared with 23.1% in the first nine months of 2006. Operating income decreased to $4.5 million (3.8% of revenues), and on a non-GAAP basis excluding compensation related to a modification of stock options, operating income decreased to $4.8 million (4.0% of revenues), as compared to an operating income of $19.5 million (14.1% of revenues) in the first nine months of 2006.
Net income was $2.9 million (2.4% of revenues), or $0.13 per diluted share, in the first nine months of 2007, while on a non-GAAP basis, excluding compensation related to a modification of stock options, net income was $3.2 million (2.6% of revenues), or $0.14 per diluted share, in the first nine months of 2007. Net income in the first nine months of 2006, was $13.7million (9.9% of revenues), or $0.66 per diluted share.
Click here to view more:
Results for First Nine Months of 2007:
Revenues in the first nine months of 2007 were $119.7 million, representing a 13.3% decrease from revenues of $138.1 million generated during the first nine months of 2006. The decline in revenue was due to a reduction in sales of intimate apparel and a significant reduction in sales of active-wear. This decline was slightly offset by an increase in sales of swimwear.
Gross margin in the first nine months of 2007 decreased to 14.5%, compared with 23.1% in the first nine months of 2006. Operating income decreased to $4.5 million (3.8% of revenues), and on a non-GAAP basis excluding compensation related to a modification of stock options, operating income decreased to $4.8 million (4.0% of revenues), as compared to an operating income of $19.5 million (14.1% of revenues) in the first nine months of 2006.
Net income was $2.9 million (2.4% of revenues), or $0.13 per diluted share, in the first nine months of 2007, while on a non-GAAP basis, excluding compensation related to a modification of stock options, net income was $3.2 million (2.6% of revenues), or $0.14 per diluted share, in the first nine months of 2007. Net income in the first nine months of 2006, was $13.7million (9.9% of revenues), or $0.66 per diluted share.
Click here to view more:
Tefron Ltd
Popular News
Leave your Comments
Editor’s Pick
C Devarajan & P Raajashekar
Texvalley
Ata Turgutalp
Eliar Elektronik San. A.S.
Susanne Guldager
Label - La Femme Rousse
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
