Overseas growth helps Talon narrow Q3 loss

US: Overseas growth helps Talon narrow Q3 loss

Author: just-style.com | 17 November 2008

Soaring demand for its zippers, fasteners and trims helped Talon International Inc record a 42% hike in third quarter sales and narrow its quarterly loss.

For the third quarter to 30 September, net loss was down to $2.4m or $0.12 per share, from a loss of $3.7m or $0.18 per share, for the same period last year.

Sales rose to $12.8m from $9.0m, boosted by new brands and program sales of Talon Zipper and Trim products within the US, and expansion within mainland China.

However, higher sales volumes were offset by higher costs of manufacturing, freight and delivery - which meant gross profit only increased to $3.2m or 25% of sales, from $2.5m or 28% of sales last time.

Increased employee costs and business expenses from the company's expansion meant operating expenses rose to $4.9m from $5.6m.

Sectors: Apparel, Finance, Manufacturing

Companies: Talon International