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Delta Apparel 2011 Revenue Grows 12%

(Filed Under Financial and General Interest News). Delta Apparel, Inc. reported a 12 percent increase in full-year sales for 52-week fiscal year 2011 ended July 2.

Sales were reported at approximately $475 million, up from $424.4 million in the in 53-week fiscal year 2010. The company stated that the increase was driven by the acquisition of apparel companyThe Cotton Exchange in July 2010 and organic growth of approximately 7 percent. The company expects earnings per share to be in the $1.96 to $1.98 range, up over 40 percent from $1.40 per share in 2010.

Delta Apparel expects net sales for fiscal 2012 to be in the $500 million to $520 million range, which would be a 5 to 9 percent increase in expected organic growth. Earnings per share are projected in the $2 to $2.15 range.

"While we are facing challenges in fiscal year 2012, we believe that Delta Apparel, Inc. is positioned for continued sales growth and earnings expansion," stated Robert W. Humphreys, chairman and chief executive officer of Delta Apparel. "Our brands appeal to a large and growing consumer base and we expect to see significant revenue growth in some of our newer branded apparel lines."

Delta Apparel, Inc. is an international apparel manufacturing, marketing and sourcing company with operating subsidiaries including M.J. Soffe and Junkfood Clothing.

more Financial and General Interest News >>

Published 07-29-2011 by Katherine Rautenberg

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