Home / Knowledge / News / Company / Danier continues to maintain a strong balance sheet

Danier continues to maintain a strong balance sheet

22
Oct '10
Danier Leather Inc. announced its unaudited interim consolidated financial results for the 13 week period ended September 25, 2010.

Financial Highlights

Sales during the first quarter of fiscal 2011 increased by 17% to $23.4 million compared with $20.0 million during the first quarter last year. Comparable store sales increased by 18%.

Gross profit as a percentage of revenue increased by 400 basis points to 52.4% compared with 48.4% during the first quarter last year and gross profit dollars increased by $2.6 million. Selling, general and administrative expenses during the first quarter of fiscal 2011 increased by 8% to $16.3 million compared with $15.1 million during the first quarter last year.

The increase in sales and gross margin resulted in a $0.6 million or 17% improvement in the fiscal 2011 first quarter net loss to $2.8 million compared with $3.4 million during the first quarter last year.

Danier continues to maintain a strong balance sheet with cash of $9.3 million compared with $8.4 million at the end of the first quarter last year, working capital of $34.0 million, no long-term debt and a book value of $11.37 per outstanding share.

Danier Leather Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Jan 2021

China's textile & garment exports rise 9.6% in 2020

Despite the COVID-19 pandemic and global economic slowdown, textile...

Pic: Shutterstock

Textiles | On 26th Jan 2021

Vietnam, Israel to sign labour cooperation pact this year

Israel and Vietnam recently initiated negotiations over a labour...

Pic: Shutterstock

Fashion | On 25th Jan 2021

Boohoo buys Debenhams brand, website, but not its stores

Boohoo has reportedly purchased Debenhams brand and website for £55...

Interviews View All

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Yariv Bustan,

Yariv Bustan

Founded in Israel in 2015, Twine Solutions is a tech start-up that has...

Kurt Wedgwood,

Kurt Wedgwood

From design to raw material to fabrication and ultimately to delivery -...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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


January 2021

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


Advanced Search