Home / Knowledge / News / Fashion / Western & work boot sales up at McRae Industries
Western & work boot sales up at McRae Industries
27
Nov '08
McRae Industries Inc reported consolidated net revenues for fiscal 2008 of $80,021,000 as compared to $68,271,000 for fiscal 2007. Net earnings for fiscal 2008 totaled $5,041,000, or $2.27 per diluted Class A common share as compared to net earnings of $3,818,000, or $1.75 per diluted Class A common share for fiscal 2007. The after-tax gain on the sale of our Florida real estate property in fiscal 2007 favorably impacted earnings per diluted Class A common share by $.26.

Consolidated net revenues for fiscal 2008 totaled $80.0 million as compared to $68.3 million for fiscal 2007. This 17% growth in net revenues was primarily attributable to increased sales for both the military boot business and the western and work boot business, which was partially offset by a decline in net revenues in the bar code business.

Consolidated gross profit amounted to $23.2 million for fiscal 2008 as compared to $18.5 million for fiscal 2007. The growth in consolidated gross profit was the result of increased net revenues and improved profit margins in the bar code and military boot businesses.

Consolidated selling, general and administrative ("SG&A") expenses, including research and development ("R&D") costs, totaled $15.5 million for fiscal 2008 as compared to $14.4 million for fiscal 2007, as adjusted for the approximately $1.1 million reduction in expenses related to the gain on the sale of our real estate property in Florida.

This increase in SG&A expenses resulted primarily from higher outlays for sales commissions, travel expenses, administrative salaries, professional fees, computer services, bad debts and employee benefit costs, which were partially offset by reduced charges for R&D, group health insurance and building repair.

As a result of the above, consolidated operating profit amounted to $7.7 million for fiscal 2008 as compared to $5.2 million for fiscal 2007.

Click here to read more details:

McRae Industries


Must ReadView All

Pic: Inditex

Apparel/Garments | On 23rd Mar 2019

Inditex, MIT collaborate on sustainability challenges

Inditex and MIT are collaborating to promote research in global...

Pic: Lenzing

Textiles | On 23rd Mar 2019

Lenzing to appoint new members to supervisory board

Prior to the annual general meeting of the publicly traded company...

China to boost investment in Bangladesh: envoy

Textiles | On 23rd Mar 2019

China to boost investment in Bangladesh: envoy

China would facilitate more investment by its companies and small and ...

Interviews View All

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Abhishek Samdaria, Reflete

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Awanda Booth,

Awanda Booth

Held every year in New York City, Surtex is a global business-to-business...

Carolin Russ,

Carolin Russ

Weko, Weitmann &amp; Konrad GmbH &amp; Co KG, based in south Germany, is...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

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

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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


March 2019

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

news category


Related Categories:

Advanced Search