USA: Delta Woodside Reports Q4 Sales Up 41 Per Cent
The maker of woven and knitted fabrics reported a 41 per cent increase in sales compared to the same quarter last year and reported net income before extraordinary items of $1.25 million for the fourth quarter ended 29 June 2002.
Net sales for the quarter were $52.36 million compared to $37.07 million for the last year. Net income was $10.83 million compared to a loss of $5.50 million in the fourth quarter of fiscal year 2001.
Included in the current year quarter was an after tax gain of $9.57 million related to the repurchase by company subsidiary Delta Mills Inc of a portion of its senior notes.
For the fiscal year ended 29 June 2002, net sales were $174.67 million, a decrease of 18 per cent from $212.96 million in fiscal 2001. The company reported a loss of $2.10 million for fiscal 2002 against a loss of $3.92 million in 2001.
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