Record Q2 Revenue For iFabric
Updated: Oct 7
iFabric, the public Canadian firm that combines an intelligent fabric division with a division that specializes in adhesive bras and other intimate apparel accessories, reported record second quarter sales for the three months ended June 30.
The company earned 57,982CD (Canadian dollars, about $43,000 at todays exchange rates) on revenue of 5,796,220CD (about $4.27 million), compared to net earnings of 132,527CD (about $98,000) on revenue of 5,278,331CD (about $3.89 million) in the same period last year.
In the quarter “revenues in the Intelligent Fabrics Division, increased by 20% or 584,347CD to 3,499,504CD [about $2.58 million] in 2024 from 2,915,157CD [about $2.15 million] in 2023.’
During the same period, however, “revenues in the Intimate Apparel Division decreased by 3% or 62,958CD to 2,294,966 CD [about $1.70 million] in 2024 from 2,357,924CD [about $1.74 million] in 2023.” This division operates under the name Coconut Grove Intimates name and offers many products with the licensed Maidenform label.
For the six months ended June 30, earnings before income taxes at the Intelligent Fabrics division were 1,212,124CD (about $892,000) on total revenue of 9,446,078CD (about $6.96 million) compared to pre-tax earnings of 135,047CD (about $99,000) on total revenue of 8,426,226CD (about $6.20 million) in the first half of 2023.
In the first six months of this year, pre-tax earnings at the Intimate Apparel division were CD (about $207,000) on total revenue of 4,383,301CD (about $3.23 million), down from last year when the segment reported pre-tax earnings of 724,241CD (about $533,000) on total revenue of 4,581,260CD (about $3.37 million).
Combined sales of all divisions at iFabric in the first half of 2024 were divided, geographically, in this manner: Canada 4,726,188CD (about $3.48 million); the U.S. 4,711,956CD; the U.K. 5,304CD; and “Southeast Asia and other” 3,107,396CD (about $2.29 million).
Above: A portion of the Coconut Grove Maidenform Collection
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