• Q2 net loss of $4.6m
  • Revenues down 48.1%
  • Worldwide slowdown to blame

 

Intimate apparel producer Tefron Ltd has reported a widened net loss for the second quarter of 2009, after its revenues nearly halved during the period.

Net loss for the quarter was $4.6m, as compared with net loss of $2.2m in the second quarter of 2008.

The company's second quarter revenues were $25.3m, representing a 48.1% decrease from Q2 2008 revenues of $48.6m.

The decrease in revenues in the quarter was primarily due to the worldwide economic slowdown, it said.

Revenues in the first half of 2009 were $72.2m, representing a 27.5% decrease. Net loss was $4.5m for the first half, from $2.8m in the first half of 2008.