Delta Apparel, Inc. (AMEX: DLA), a marketer, manufacturer, and distributor of high quality branded and private label activewear apparel, recently announced financial results from its first fiscal quarter ended September 27, 2008. Net sales for the quarter totaled $91.4 million, a 26 percent year-over-year gain. First quarter net income climbed to $0.7 million, or $0.08 per diluted share, compared to the prior year’s first quarter net loss of $1.5 million, or $0.18 loss per diluted share.
The company’s shares moved higher earlier this week after the announcement of the company’s first quarter financial results. The company started several new initiatives to lower manufacturing costs and management believes that inventories are well balanced to sustain growth. For the fiscal year ending June 27, 2009, the Delta Apparel, Inc. reiterated its expectation for net sales to be in the range of $340 million to $360 million and earnings to be in the range of $0.70 per diluted share to $0.90 per diluted share.
President and chief executive officer of Delta Apparel, Robert W. Humphreys, commented during a recent conference call stating, “We achieved sales growth across all of our business units. Demand for our apparel products remained healthy during the quarter and resulted in record revenues. Our two business segments now have two consecutive quarters of sales growth over the prior year, and we they are well positioned to continue their growth over the next several quarters.”
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