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current news

Tefron Reports 67% Revenue Growth in 3q


(Filed Under Financial and General Interest News). Israel-based activewear and intimate apparel producer Tefron Ltd. reported a 67.4 percent increase in sales for the third quarter of 2011.

The company notably recorded a 75 percent rise in sales of seamless apparel, which contributed to the jump in revenue to $30.1 million, up from $18 million in the third quarter of 2010. Gross profit came to $4.6 million, or 15.2 percent of sales, up from $0.6 million, or 3 percent of sales, in the prior year’s period. Third-quarter operating loss fell 82 percent to $0.5 million, compared with an operating loss of $3.1 million in the same period one year ago.

Tefron C.E.O. Amit Meridor said the steep rise in sales of seamless intimates and activewear has helped the company establish itself as a global leader. "We also achieved significant results in bringing new mass-market customers for the retail sector in North America," Meridor added. "During the third quarter, we deepened development of four groundbreaking new technologies, which will serve as a basis for continued growth of the company in coming years."

Year to date, the company’s gross profit has increased by $9.1 million to $13.8 million compared to 2010, while operating loss has fallen 58.2 percent to $3.7 million. Sales increased 26.5 percent to $86.9 million fom $68.7 million.

Tefron’s seamless intimate apparel, activewear and swimwear is sold through major retailers worldwide, including Victoria’s Secret, Warnaco/Calvin Klein, Hanesbrands, The Gap, JCPenney and T.J. Maxx.


more Financial and General Interest News >>

Published 12-02-2011 by Katherine Rautenberg

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