USA: Tag-It Pacific Reports Q2 Results
Tag-It Pacific, Inc reported that for the three months ended June 30, 2001 net sales increased approximately $3,260,000 or 28.7 per cent to $14,619,000 compared to $11,359,000 for the comparable period in 2000.
For the six months ended June 30, 2001, sales increased 26.6 per cent to $24,758,000 compared to $19,549,000 for the comparable period in 2000.
General and administrative expenses as a percentage of net sales decreased to 16.2 per cent and 17.8 per cent for the three and six months ended June 30, 2001 compared to 20 per cent and 20.4 per cent for the three and six months ended June 30, 2000, due in large part to the implementation of its first quarter 2001 Restructuring Plan.
As a result of increased sales and reduced costs, income from operations for the three months ended June 30, 2001 increased 105 per cent to $1,233,000 compared to $600,000 in the comparable period.
Colin Dyne, CEO of Tag-It said: "With the slowing of the economy and efficiency enhancing changes under way in the apparel industry today, we believe that our Managed Trim Solution business model offers a superior and cost effective solution to apparel manufacturers' problems related to the ordering, production, inventory management and delivery of their trim requirements."
Companies: Talon International Inc
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