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Protective apparel maker DHB revenue reaches record $88mn

29
Jul '05

New York based athletic sports goods company DHB Industries Inc, which principally operates in the rapidly growing field of body armor, announced the results for the second quarter ended June 30, 2005. DHB posted record second quarter revenues of over $88 million and its 22nd consecutive year-over-year increase in quarterly revenues.

For the second quarter ended June 30, 2005, DHB reported revenues of $88,196,000 as compared to revenues of $86,066,000 in the second quarter of 2004. DHB was cash flow positive, generating $13,252,000 in cash from operations this quarter.

During the second quarter of 2004, DHB was cash flow negative, using cash in operations of $16,257,000. Operating income was $12,642,000 as compared to $12,990,000 in the comparable year-ago period. Income available to common stockholders was $7,598,000 as compared to $7,570,000 in the second quarter of 2004.

Earnings per share was $0.17 per diluted share as compared to $0.17 per diluted share reported in the year-ago period. The effective tax rate was 35.5 percent as compared to 39.1 percent in the second quarter last year. Weighted shares outstanding on a diluted basis were 46,021,501 as compared to 45,739,277 in the comparable 2004 period.

The gross profit margin for the second quarter of 2005 was 27.2 percent versus 27.7 percent in the comparable year-ago period. Selling, general and administrative expenses were 12.9 percent of net sales versus 12.7 percent of net sales for the second quarter of 2004.

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