Delta Apparel Announces Preliminary Fourth Quarter and Full Fiscal Year Results
October 03 2019 - 7:00AM
Delta Apparel, Inc. (NYSE American: DLA), a leading provider of
core activewear and lifestyle apparel products, today announced
preliminary results for its 2019 fourth quarter and full fiscal
year ended September 28, 2019.
The Company anticipates overall net sales for
the fourth quarter of its 2019 fiscal year to be in a range of $104
to $106 million, or about a 12% to 14% increase from prior year net
sales of $92.9 million. The fourth quarter growth was driven by
strong organic growth across all of the Company’s businesses.
For the full 2019 fiscal year, the Company anticipates overall net
sales to be in a range of $428 to $430 million and well above prior
year net sales of $395.5 million. The annual growth was
driven primarily by gains in the Company’s digital print business,
DTG2Go, which continues to expand through investments in print
capacity, new technology and additional facilities, along with
accelerating top-line performance in the Salt Life business led by
product expansions and momentum with national and regional
retailers.
Robert W. Humphreys, Delta Apparel, Inc.’s
Chairman and Chief Executive Officer, stated, “We are pleased to
close out the fiscal year with solid double-digit sales growth in
the fourth quarter fueled by strong performance across both our
Delta Group and Salt Life Group segments. We are also
delighted to have achieved our full-year goals of 20% organic
growth in our DTG2Go business and strong growth in our Salt Life
business. Our Delta Activewear team overcame the challenges
brought on by changes in product mix within its private label
business and also delivered growth for the year. All of our teams
have done a great job of executing on our growth initiatives and
leveraging our scale and vertical platform. We are confident in the
opportunities we see for continued profitable growth,” Mr.
Humphreys concluded.
B. Riley FBR Annual Consumer & Media
Conference
As previously announced, the Company is
scheduled to present today at 8 AM Eastern Time at the B. Riley FBR
Annual Consumer & Media Conference being held at the Sofitel
Hotel located in New York, New York. 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.
Fourth Quarter and Full Year Fiscal 2019 Results on
November 21, 2019
Final and complete financial results for the
fiscal year 2019 fourth quarter and full year ended September 28,
2019, will be released after the market close on November 21,
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 1-800-458-4121. If calling from outside
the United States, please dial 1-323-794-2093. 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 December 21, 2019. To access the telephone
replay, participants should dial toll-free 1-844-512-2921.
International callers can dial 1-412-317-6671. The access
code for the replay is 6600025.
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 sells 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 8,300 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 x6620
investor.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, 203-682-8208 DLAPR@icrinc.com
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