(Filed Under Financial and General Interest News). Delta Apparel reported record financial gains for the first quarter of fiscal year 2012, with net income increasing 167.7 percent to $4.4 million from $1.6 million in 2010.
Net sales increased 14.5 percent to a record $123.5 million. Diluted earnings per share increase 163.2 percent to 50 cents, up from 19 cents a share in the first quarter of 2010. Gross margins improved to 25.3 percent from 24 percent, with expansion in basics and branded apparel segments.
"Each operating division increased revenues, contributing to the 14.5 percent organic growth sales during the quarter," commented Robert W. Humphreys, chairman and C.E.O. of Delta Apparel. "Demand for our brands, licensed properties and decorated merchandise continues to grow."
Humphreys also stated that the company anticipates continued revenue growth in the upcoming quarters, although profitability may be affecting by the fluctuating cost of cotton. Delta Apparel is maintaining its fiscal year 2012 outlook with sales expectations in the range of $500 to $520 million and earnings per share in $2 to $2.15 range.
Delta Apparel, Inc. is an international apparel manufacturing, sourcing and marketing company with operating subsidiaries including M.J. Soffe and Junkfood Clothing.
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