Delta Apparel, Inc. (NYSE Amex: DLA) reported financial results for its fourth quarter and fiscal year ended July 2, 2011.
Fourth Quarter Highlights
Net sales increased 9.1% to a record $137.6 million from $126.2 in the prior year period
Gross margins improved 340 basis points to 27.3%
Net income increased 50.6% to $8.5 million from $5.7 million in the prior year
Diluted EPS increased 51.6% to $0.97 from $0.64 in the prior year period
Fiscal 2011 Highlights
Net sales increased 12.0% to a record $475.2 million from $424.4 million in the prior year
Gross margins improved 80 basis points to 24.5%
Net income increased 42.2% to $17.3 million from $12.2 million in fiscal year 2010
Diluted EPS increased 41.4% to $1.98 compared to $1.40 last fiscal year
On August 17, 2011, the Company�s Board of Directors approved a $5 million increase in the Company�s Stock Repurchase Program, bringing the total authorization to $20 million. This marked the fourth increase since the program began in November 2000. Since inception, the Company has spent approximately $12.1 million under the Stock Repurchase Program, buying back approximately 1.2 million shares at an average price of $9.81. In fiscal year 2011, the Company spent $2.5 million repurchasing 177 thousand shares at an average of $14.18 per share. Approximately $8.0 million remains available for future stock repurchases pursuant to the Stock Repurchase Program.
Delta Apparel, Inc., along with its operating subsidiaries, M. J. Soffe, LLC, Junkfood Clothing Company, To The Game, LLC, Art Gun, LLC and TCX, LLC, is an international design, marketing, manufacturing, and sourcing company that features a diverse portfolio of lifestyle branded activewear apparel and headwear, and high quality private label programs. The Company specializes in selling casual and athletic products across distribution tiers and in most store types, including specialty stores, boutiques, department stores, mid-tier and mass chains. From a niche distribution standpoint, the Company also has strong distribution at college bookstores and the U.S. military. The Company�s products are made available direct-to-consumer on its websites at www.soffe.com, www.junkfoodclothing.com, www.saltlife.com and www.deltaapparel.com. Additional products can be viewed at www.2thegame.com and www.thecottonexchange.com. The Company’s operations are located throughout the United States, Honduras, El Salvador, and Mexico, and it employs approximately 7,200 people worldwide.
Additional information about the Company is available at www.deltaapparelinc.com.
One of the biggest advantages of using biomass is the fact that it is a renewable energy source. Making use of biomass energy means that the carbon emissions usually associated with burning fossil fuels are drastically reduced, thereby diminishing the carbon �footprint� left behind. This also means that it can contribute to reducing the so-called greenhouse effect, as well as the production of the so-called greenhouse gasses. All of this in turn helps to prevent and minimize global warming.
Cleantech Transit, Inc. (CLNO.OB) is pleased to announce it has met its funding requirement to secure the Company�s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
A huge percentage of the world�s fossil fuels come from the world�s most volatile places. By reducing your use of oil derivatives, you reduce dependence on foreign energy sources, increasing the country�s energy security.
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. Cleantech Transit Inc has expanded its focus to invest directly in specific green projects that could maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech Transit Inc. has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company�s manufacturing clients worldwide.
To discover more about CLNO, Please visit: http://www.cleantechtransitinc.com/
SuccessFactors, Inc. (NYSE:SFSF) announced that the company’s executives will present at the following upcoming investor conferences: Thursday, Sept. 1, 2011 at 11:45 a.m. PT: Chief Financial Officer, Bruce Felt, will present at the 2011 Caris & Company Technology Bus Tour at SuccessFactors� offices in San Mateo, CA. Wednesday, Sept. 7, 2011 at 2:20 p.m. ET: Chief Financial Officer, Bruce Felt, will present at the 2011 Citi Technology Conference in New York. Wednesday, Sept. 14, 2011 at 9:00 a.m. ET: Chief Integration Officer, Paul Sparta, will present at the Think Equity Eighth Annual Growth Conference in New York. Thursday, Sept. 15, 2011 at 1:35 p.m. PT: Chief Financial Officer, Bruce Felt, will present at the 2011 Deutsche Bank Technology conference in Las Vegas, Nev. Live audio webcasts of the presentations will be available on SuccessFactors’ Investor Relations website at http://www.successfactors.com/investor.
SuccessFactors, Inc. provides cloud-based business execution software solutions that enable organizations to bridge the gap between business strategy and results worldwide.
Stage Stores Inc. (NYSE:SSI) announced that its Board of Directors has declared a quarterly cash dividend of nine cents per share on the Company�s common stock, payable on September 21, 2011 to shareholders of record at the close of business on September 6, 2011.
Stage Stores, Inc. brings nationally recognized brand name apparel, accessories, cosmetics and footwear for the entire family to small and mid-size towns and communities through 799 stores located in 39 states.
The Marcus Corporation (NYSE:MCS) announced that Bill Reynolds has joined the company as senior managing director of MHR Capital. MHR Capital is a newly formed hotel investment business formed by The Marcus Corporation to act as an investment fund sponsor, joint venture partner or sole investor for hotel and resort properties.
The Marcus Corporation, together with its subsidiaries, owns and operates theatres, and hotels and resorts.
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