Career and workwear manufacturer Superior Uniform Group reported that its first-quarter profit more than tripled on the back of strong sales growth.
Net earnings reached $1.2 million for the three months to March 31, compared to $327,000 the same period last year.
Sales increased 8.7% to $31 million over $28.5 million the prior year. The uniforms and related products segment posted a 6.8% rise in sales, while sales at the remote staffing solutions unit jumped 84.3%.
Gross margins in the uniforms and related products segment have returned to pre-cotton crisis levels at 35.5% in the current-year period against 32.8% in the prior year. The company expects this trend to continue throughout 2013.
Chief executive officer Michael Benstock said: “Our financial position remains very strong and has us positioned to make further investments in all of our operations as we continue to pursue acquisitions and other opportunities to accelerate the growth of our business.”
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