Delta Apparel Announces Preliminary First Quarter Results
January 14 2019 - 7:00AM
Delta Apparel, Inc. (NYSE American: DLA), a leading provider of
core activewear and lifestyle apparel, today announced preliminary
results for its 2019 fiscal first quarter ended December 29, 2018.
The Company anticipates overall net sales for
the first quarter of its 2019 fiscal year to come in ahead of
expectations at approximately $101 million, or about a 12% increase
from prior year net sales of $90.3 million. The growth was driven
by solid double-digit gains in the Company’s Salt Life business, as
well as in its digital print business, which successfully completed
its first holiday season with consolidated operations including the
DTG2Go and SSI Digital Print businesses acquired in the last 10
months.
The Company expects earnings per share for the
quarter to be above the prior year period’s reported earnings per
share. Results during the first quarter of fiscal year 2019 were
impacted by a discrete expense of $2.5 million associated with the
resolution of litigation stemming from The Sports Authority's March
2016 bankruptcy. The Company anticipates adjusted earnings
per share for the quarter to be approximately in line with prior
year adjusted results of $0.08 after excluding the financial impact
of this expense and the impact of United States tax reform
legislation.
Robert W. Humphreys, Delta Apparel, Inc.’s
Chairman and Chief Executive Officer, stated, “We are pleased with
our start to the new fiscal year and the broad-based momentum we
are seeing across our business segments. We have delivered
sequential growth in our Salt Life Group, and our Delta Group
continues its strong expansion driven by our DTG2Go digital print
business. We look forward to providing our full results for the
first quarter during our upcoming earnings call.”
ICR Conference
As previously announced, the Company is
scheduled to present today at 8 a.m. Eastern Time at the ICR
Conference being held at the JW Marriott Grand Lakes located in
Orlando, Florida. A webcast of the conference presentation will be
available on Delta Apparel's website at www.deltaapparelinc.com.
Real Player or Windows Media Player is required to listen to the
webcast.
First Quarter Fiscal 2019 Results on February 4,
2019
Final and complete financial results for the
fiscal year 2019 first quarter ended December 29, 2018, will be
released after the market close on February 4, 2019. At 4:30
p.m. ET on that day, the Company will also hold a conference call
with senior management to discuss its financial results and
business outlook. The Company invites you to join the call by
dialing 866-575-6539. If calling from outside the United
States, please dial 323-794-2423. A live webcast of the
conference call will be available at www.deltaapparelinc.com.
Please visit the website at least 15 minutes early to register for
the teleconference webcast and download any necessary software.
A replay of the call will be available through March 4,
2019. To access the telephone replay, participants should
dial toll-free 844-512-2921. International callers can dial
412-317-6671. The access code for the replay is 7993355.
About Delta Apparel, Inc.
Delta Apparel, Inc., along with its operating
subsidiaries, Salt Life, LLC, M. J. Soffe,
LLC, and DTG2Go, LLC, is an international design,
marketing, manufacturing, and sourcing company that features a
diverse portfolio of core activewear and lifestyle apparel and
related accessory products. The Company specializes in
selling casual and athletic products through a variety of
distribution channels and distribution tiers, including department
stores, mid and mass channels, e-retailers, sporting goods and
outdoor retailers, independent and specialty stores, and the U.S.
military. The Company’s products are also made
available direct-to-consumer at its branded retail stores and on
its websites at www.saltlife.com, www.coastapparel.com,
www.soffe.com and www.deltaapparel.com. The Company’s
operations are located throughout the United
States, Honduras, El Salvador, and Mexico, and it
employs approximately 7,700 people worldwide. Additional
information about the Company is available
at www.deltaapparelinc.com.
Cautionary Note Regarding
Forward-Looking Statements
This press release may contain “forward-looking”
statements that involve risks and uncertainties. Any number
of factors could cause actual results to differ materially from
anticipated or forecasted results, including, but not limited to,
the volatility and uncertainty of cotton and other raw material
prices; the general U.S. and international economic conditions;
competitive conditions in the apparel industry; restrictions on our
ability to borrow capital or service our indebtedness;
deterioration in the financial condition of our customers and
suppliers and changes in the operations and strategies of our
customers and suppliers; changing consumer preferences or trends;
our ability to successfully open and operate new retail stores;
changes in economic, political or social stability at our offshore
locations; significant interruptions within our manufacturing or
distribution facilities or other operations; our ability to attract
and retain key management; significant changes in our effective tax
rate; interest rate fluctuations increasing our obligations under
our variable rate indebtedness; the ability to raise additional
capital; the ability to grow, achieve synergies and realize the
expected profitability of acquisitions; the volatility and
uncertainty of energy, fuel and other costs; material disruptions
in our information systems; compromises of our data security;
significant litigation in either domestic or international
jurisdictions; recalls, claims and negative publicity associated
with product liability issues; the ability to protect our
trademarks and other intellectual property; and the other factors
set forth in the "Risk Factors" contained in our most recent Annual
Report on Form 10-K filed with the Securities and
Exchange Commission. Except as may be required by
law, Delta Apparel, Inc. expressly disclaims any
obligation to update these forward-looking statements to reflect
events or circumstances after the date of this press release or to
reflect the occurrence of unanticipated events.
Company Contact: Deborah Merrill, 864-232-5200
x6620investor.relations@deltaapparel.com
Investor Relations and Media Contact: ICR, Inc.
Investors: Tom Filandro/Caitlin Morahan,
203-682-8200Tom.Filandro@icrinc.com /
Caitlin.Morahan@icrinc.com
Media: Jessica Liddell, 203-682-8208DLAPR@icrinc.com
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