Last $10.14 USD
Change Today -0.10 / -0.98%
Volume 1.7K
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As of 11:18 AM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

delta apparel inc (DLA) Key Developments

Delta Apparel Inc. Reports Earnings Results for the Fourth Quarter and Fiscal Year Ended September 27, 2014

Delta Apparel Inc. reported earnings results for the fourth quarter and fiscal year ended September 27, 2014. Fourth quarter sales were $114.9 million, compared with $122.6 million in the prior year September quarter. The Company's adjusted net income for the fourth quarter of $1.7 million, or $0.22 per diluted share, was an improvement over its net income of $0.6 million, or $0.07 per diluted share, in the prior year period. Without adjustment for the impact of strategic initiatives, the company experienced a net loss for the fourth quarter of $0.8 million, or $0.10 per diluted share against net profit of $0.6 million or $0.07 per diluted share a year ago. Operating loss was $3,412,000 against operating income of $556,000 a year ago. Loss before benefit from income taxes was $4,820,000 against $477,000 a year ago. Capital spending during the September quarter was $2 million. Net sales for the fiscal year ended September 27, 2014, of $452.9 million, against $483.0 million in the prior twelve months. The Company's net income, adjusted for the $4.0 million pre-tax impact of strategic initiatives, was $1.5 million, or $0.19 per diluted share, compared with net income in the prior year of $6.2 million, or $0.74 per diluted share. Without adjustment for the impact of strategic initiatives, the company experienced a net loss for the fiscal year ended September 27, 2014, of $1.0 million, or $0.12 per diluted share against net profit of $6.2 million or $0.74 per diluted share a year ago. Operating loss was $1,661,000 against operating income of $8,622,000 a year ago. Loss before benefit from income taxes was $7,453,000 against income before benefit from income taxes of $4,668,000 a year ago. Capital spending for the full year was $2 million, which brings the total to $9.7 million.

Delta Apparel Inc. to Report Q4, 2014 Results on Dec 04, 2014

Delta Apparel Inc. announced that they will report Q4, 2014 results at 4:30 PM, US Eastern Standard Time on Dec 04, 2014

Delta Apparel Inc., Q4 2014 Earnings Call, Dec 04, 2014

Delta Apparel Inc., Q4 2014 Earnings Call, Dec 04, 2014

Delta Apparel, Inc., M.J. Soffe, LLC, Junkfood Clothing Company, To The Game, LLC and Art Gun, LLC Enter into Third Amendment to Fourth Amended and Restated Loan and Security Agreement with Wells Fargo Bank, National Association

On September 26, 2014, Delta Apparel, Inc. and its wholly-owned subsidiaries M.J. Soffe, LLC, Junkfood Clothing Company, To The Game, LLC and Art Gun, LLC entered into a third amendment to fourth amended and restated loan and security agreement with Wells Fargo Bank, National Association and the other lenders set forth therein. The third amendment amends certain definitions within the Existing Loan Agreement and generally operates to ease borrowing base availability thresholds relating to a financial testing covenant during the period from September 28, 2014, through October 31, 2015. In addition, the definition of Fixed Charge Coverage Ratio is amended to adjust for expenses that may be incurred in connection with strategic initiatives, and to exclude the $9 million payment due on September 30, 2014, in connection with the August 27, 2013, purchase of certain assets and properties of Salt Life Holdings, LLC. In consideration of the amendments provided in the third amendment, the borrowers agreed to pay Wells Fargo and the other lenders an aggregate fee of $362,500. In addition, interest rates are increased by 25 basis points on the loans available under the existing loan agreement.

Delta Apparel appoints Elisa Palefsky as Vice President of Sales for M.J. Soffee Operating Subsidiary

Delta Apparel reported Elisa Palefsky joined the company as Vice President of Sales for its M. J. Soffe operating subsidiary headquartered in Fayetteville, NC. Palefsky has teamed up with Soffe to provide her style of proven leadership in the management of the company's three sales divisions: sporting goods, department stores, and military. Palefsky comes to Soffe with over 20 years of leadership in the branded and licensed merchandise industry.

 

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