Home / Knowledge / News / Apparel/Garments / Ironclad to expand glove & apparel sales

Ironclad to expand glove & apparel sales

04
Apr '08
Ironclad Performance Wear Corporation, a leader in high-performance gloves and apparel, announced the final audited results for fourth quarter and fiscal year ending December 31, 2007, and net sales guidance for fiscal year ending December 31, 2008.

The reported net sales for the fourth quarter of 2007 of approximately $5.3 million, an increase of 35.5% percent from the fourth quarter 2006 of $3.9 million. Full-year net sales for 2007 was approximately $13 million, representing a 36.2% increase from the 2006 net sales of $9.6 million. The reported a net loss for 2007 of approximately $3.9 million, compared to a net loss of $4.4 million.

"During 2007, Ironclad was successful in diversifying its sales channel to include significant penetration into the industrial market," said Ed Jaeger, President and CEO of Ironclad. "Combined with continued strength in the sale of our core glove line, we have been able to cushion any impact by the downturn in the construction & DIY markets, which now accounts for approximately 30% of our sales, while maintaining a healthy growth rate."

In addition to the 2007 financials, Ironclad released its revenue guidance for 2008, indicating that management expects Net Sales to be in the range of $15.7 million to $17.6 million, representing an increase of 20% - 34% over expected net sales in 2007. In addition to continued net sales growth, the company plans to achieve positive cash flow and profitability in 2008.

Mr. Jaeger concluded, "We expect to see significant sales growth in our domestic U.S. apparel line, leveraging the early traction we experienced in 2007; as well as growth in our international presence, where we are expanding both our glove and apparel sales. We are also penetrating new retail chains and introducing several new glove styles, including a highly anticipated cut-resistant glove for the industrial market."

Ironclad Performance Wear Corporation


Interviews View All

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Textile industry, Head honchos

Textile industry
Head honchos

Athleisure is the current buzzword in fashion

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search