(Filed Under Financial and General Interest News). Sales at Delta Galil in 2013 rose 19%, from $817,782,000 to $974,719,000 and CEO Isaac Dabah projects that “Based on our initial financial guidance,” 2014 “will be our first year of sales in the $1 billion-plus range” in a press release that accompanied the year end results.
Net income for 2013 dropped to $42,680,000 from $56,977,000 in 2012.
Commenting on the past year, Dabah noted, “Our top-line growth in 2013 was broadly diversified, with particular increases in activewear, socks and seamless categories. We also experienced growth with key customers, increased our branded business, and prepared to enter a promising new channel for Delta Galil—wholesale clubs. Geographically, our growth was distributed across North America, Israel and Europe, including an 84% sales increase in Germany as a result of our Schiesser acquisition. We are also extremely excited about our recently signed licenses with Lacoste and Marc O’Polo.”
He added, “We look forward to delivering record results as we pursue profitable growth across our product categories, private label and branded business, retail channels, and geographic regions.”
The company’s “Financial guidance for 2014 calls for sales of $1.035 billion to $1.065 billion. Full-year 2014 diluted EPS before non-recurring items is expected to be $1.93-$2.11.” The company projects “Full-year 2014 net income before non-recurring items is expected to range between $49 million-$54 million, representing an increase of 11%-22% from 2013 net income before one-time items of $44.3 million.”
Dabah summarized, “2013 was a milestone year for Delta Galil, highlighted by record sales and earnings, solid performance across multiple product categories and geographies, new license opportunities, and a strong balance sheet to support further progress in the future.”
On its website, Delta Galil lists as customers a wide range of firms including: Victoria’s Secret, Nike, Calvin Klein, Walmart, Triumph, Benetton, Boss, Target, Lululemon, JC Penney, Under Armour, Sam’s Club, Wolf Lingerie, Maidenform, Spanx, PrimaDonna, Wacoal, Sears, LaneBryant and Dillard’s.
Additional licenses include Columbia, Tommy Hilfiger, Converse, Kenneth Cole, Major League Baseball, Wilson and Maidenform.
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