US clothing firm Delta Apparel said its net sales and income rose in the fourth quarter, having added new license and marketing agreements.
For the full-year period, net sales increased 19.5% to a record $424.4m. The company’s net income increased 88.8% to $12.2m during the year.
Robert Humphreys, chairman and CEO of Delta, said: “We are encouraged to have achieved our seventh consecutive year of sales growth. For the second successive year, each of our business units increased revenue, driving 14% organic growth on top of 8% organic growth in the prior year. We continue to gain new customers, expand business relationships with existing customers, add new license and marketing agreements, and expand our value-added services for our customers.
“Our flexible manufacturing platform is supporting our growth and is currently running near capacity. We have recently added equipment at Ceiba Textiles which should enhance our output and we expect to make additional investments as needed in fiscal year 2011 to support our long-term sales growth.”
For the 2011 fiscal year, the company expects net sales to be in the range of $455 to $465m and earnings to be in the range of $1.55 to $1.70 per diluted share.
Click here to read the company’s full Q4 results.
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