Sunday, 3 May 2020

Delta Apparel confirms 6% sales downturn, second-quarter earnings lift

Delta Apparel announced on Thursday a 6 percent sales decrease to $96.7 million in the second quarter ended on March 28, compared to sales of $102.8 million in the same period the prior year. Half-year sales were $192.6 million, compared to a decrease of 5.8% from $204.5 million in the comparable period last year, the Greenville, South Carolina-based company said last week.

Net income for the quarter was $1.3 million, compared to $0.9 million, last year, and operating income rose to $3.6 million from $2.7 million. Selling, general and administrative expenses were $17.9 million, up from $17.1 million.

For the six month period, net income was $2.2 million, or $0.32 per diluted share, compared to a net loss of $0.2 million, or $0.03 per diluted share loss, in the prior-year period. 

“Our second-quarter earnings reflect our continued focus on driving profitability despite topline challenges faced late in the quarter due to Covid-19,” Robert Humphreys, company’s chairman and chief executive officer, said in a press release.

"Our vertically-integrated business model with diversified sales channels and broad geographic reach is allowing us to not only continue to operate and generate sales in the current environment but has also created an opportunity for Delta Apparel to support our existing customers and onboard new customers in select channels.”

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