ISRAEL: Tefron cuts FY loss to US$458,000
Seamless apparel specialist Tefron cut its full-year loss to just under $500,000, but recorded a $470,000 loss in its fourth quarter of trading in 2012.
Fourth quarter sales were down 10.6% to $28.2m, leaving full-year sales down 4.2% to $113.5m, the Israeli company said.
In the seamless segment, it added, fourth quarter sales fell 3.4%, but rose 2.3% over the full year.
“Our top industry standing was very much strengthened in 2012 through further advances in our seamless technology and the introduction of new innovative products, both of which enabled Tefron to make significant improvements in operations and profitability, as demonstrated in our financial results for the year,” said Amit Meridor, Tefron CEO.
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