USA: Everlast Worldwide Posts Flat Q2 Net Revenue
Sporting goods and apparel maker Everlast Worldwide Inc has reported flat net revenues for both the second quarter and corresponding 2003 period of $14.5 million.
The company said net revenues in the second quarter of 2004 would have been 4 per cent higher than reported, but was held back by a change in revenue sources in 2003, as certain customers became licensees during the second half of fiscal 2003.
Net licensing revenues in the quarter were up 51 per cent to $2.4 million versus $1.6 million in the 2003 period.
For the quarter, the company achieved a 26 per cent increase in operating income to $712,000, while EBITDA increased 11 per cent to $1.0 million over the 2003 comparable period.
For the six-months ended June 2004, net revenues increased 8 per cent to $30.7 million, led by a 38 per cent increase in licensing revenues.
For the half year the company achieved a 72 per cent increase in operating income to $1.7 million, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased 38 per cent to $2.4 million over 2003.
Companies: Everlast Worldwide Inc
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