US: Acquisition buoys Superior Uniform in Q2
- Q2 revenues up 7%
- Net earnings rise 30%
- Blade acquisition pays off
US career apparel maker Superior Uniform Group has bolstered Q2 sales and earnings, helped in part by by the acquisition of Blade Sportswear.
Sales were $266.6m, compared with 2009 second quarter sales of $25m and net earnings were $983,170 during the period.
Michael Benstock, CEO of Superior Uniform, said: "We are quite pleased to report continued significant improvement in our operating results in the current period. Net sales for the second quarter of 2010 increased almost 7%, primarily as a result of sales to customers acquired in our acquisition of Blade in the fourth quarter of 2009.
"More significantly, our earnings per share increased approximately 42% in the same period in comparison to the second quarter of 2009. This substantial improvement in earnings is partially due to the increased net sales in the current period and more significantly as a result of our streamlined cost structure.
"We are quite pleased with the integration of the customers that we acquired in the Blade acquisition into our business. We are continuing to search for strategic acquisition opportunities in the marketplace."
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