(Filed Under Financial and General Interest News). Tefron Q2 net income fell to $306,000 on revenues of $40.2 million, compared to a profit of $1.0 million on revenues of $41.8 million in the three months ended June 30, 2018.
In announcing the results for the second quarter, Tefron revealed the how revenues and results are distinctly different for its two main areas of businesses, “Brands” and “Retail.”
Total revenues from the Brands segment, which the firm has defined in previous reports as engaging “in the design, development, production and marketing of seamless intimate apparel and activewear and leisurewear, which are manufactured in the company’s plants and through subcontractors and are sold to customers with leading brands,” were $15.3 million in the three months ended June 30, 2019. But the “segment results” showed a loss of $1.3 million for the period.
Meanwhile, revenues from the Retail segment, which the firm has defined in previous reports as engaging “in the design, development, production and marketing of seamless intimate apparel and activewear and leisurewear which are sold worldwide to customers in the retail market and are characterized by purchasing large quantities of less complex products compared to the products of the brands segment,” resulted in segment revenues of $24.9 million and a segment profit of $2.4 million. The combined results of the two segments, less tax and financing expenses resulted in the net profit of $306,000 for Tefron for the period.
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