US: Sew Cal FY revenue down after loss of client
Entertainment industry apparel supplier Sew Cal Logo has posted a sales decrease for the year ended 31 August, primarily caused by the loss of a significant surf wear private label customer.
Full-year revenue was US$2.32m compared to $3.27m for the year ended 31 August 2004.
Sew Cal said it lost a customer that had decided to source its products from overseas.
However, the company believes its new wholly owned surf wear line Pipeline Posse will result in an increase in financial 2006 revenue, specifically for the upcoming summer season.
Total assets were $890,552 at 31 August 31 compared to $601,619 last year, a net increase of $288,933. The company attributed the increase to the addition of equipment used in its continuing operation as well as an increase of inventory on hand.
Sew Cal makes produces custom film wardrobe, headwear, sportswear, and related corporate identification apparel. Clients include major motion picture and television studios, as well as numerous major surf and skate brand manufacturers.
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