Israel-based apparel maker Delta Galil has recorded an increase in third-quarter earnings and upped its guidance for the full-year.
Earnings were up 43% to $14.2 million in the three months to the end of September, driven by the performances of its branded business and retail operations, in addition to its acquisition of German lingerie group Schiesser.
Sales amounted to $257.2m million, a 10% increase from $234 million in the same period of 2012. Gross profit margin rose to 27.4% in the quarter from 24.3% a year ago.
“The company has continued to set records for sales, net profit and EPS throughout 2013,” said Isaac Dabah, CEO of Delta Galil. “The main growth engines driving our higher top-line and increasing profitability include our branded business, retail operations, the Schiesser acquisition and the Delta USA mass market segment.”
Delta Galil now expects fiscal 2013 sales to be $965 million-$975 million, up from its prior forecast of $940 million-$950 million. Diluted EPS is now expected to be $1.71-$1.75, compared to its previous guidance of $1.59-$1.67.
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