Fashion trim supplier Tag-It Pacific Inc today posted a 3.3 per cent increase in third-quarter net sales, boosted by Talon zipper sales in Asia.  

Sales were $17.0 million, up from $16.5m in the same period last year, and also benefited from from strong TrimNet programs for major US retailers in the company's Hong Kong and Mexico facilities.

Cost of goods sold for the third quarter of 2004 was $12.7m, compared to $12.2m in the year-ago period.

Gross profit for the quarter was $4.3m - slightly ahead of the $4.2m reported in the year ago period. Gross margins were 25.6 per cent versus 25.7 per cent for the third quarter of 2003.

Colin Dyne, chief executive officer of Tag-It Pacific said the company has "successfully replaced more than all revenues lost from our former significant customers in Mexico and today we are a stronger company with a more diversified customer base compared to one year ago."