Delta Apparel Releases Preliminary First Quarter Results
Supplier Delta Apparel, Inc. has announced preliminary results for its 2018 fiscal first quarter, which ended December 30. The Greenville, South Carolina-based company expects overall net sales for the quarter to be in the range of $88 to $90 million, a three to five percent increase from the $85.3 million in revenue in 2017 fiscal first quarter, and 16-18 percent sales growth after adjusting for the $9.4 million in revenue that quarter from the since-divested Junkfood Clothing business.
Delta Apparel reports that each business unit achieved double-digit sales growth over the prior year. Driven by strong sales performance, it expects to show pre-tax profitability in the fiscal 2018 first quarter, which it describes as typically its most challenging quarter, compared to a net loss of $0.08 per diluted share in the prior year period.
“We are extremely pleased with our strong start to fiscal year 2018,” says Robert W. Humphreys, Delta Apparel, Inc.’s chairman and chief executive officer. “Our double-digit revenue growth and expected profitability in our seasonally slowest quarter reflects solid execution within each of our businesses and builds upon our strong finish to fiscal year 2017. Our team has done an excellent job of expanding product offerings, increasing distribution and winning market share. Our brands continue to resonate with consumers and the new Salt Life and Soffe retail stores opened during the quarter provide exciting brand-building and consumer awareness opportunities in key markets for those businesses.”