News November 22, 2019
Delta Apparel’s Full-Year Sales Up Nearly 10%
The Top 40 supplier’s net income increased, too.
Greenville, SC-based Delta Apparel (asi/49172), a Top 40 supplier in the promotional products industry, increased its fiscal 2019 sales 9.2% year over year to $431.7 million, the company reported Thursday.
Net income also rose – from $1.3 million, or $0.18 per diluted share for the whole of fiscal 2018, to $8.2 million, or $1.17 per diluted share, in 2019.
Delta didn’t break out its sales to the North American promo products market in particular. However, the business channel in which those sales are included was up 9.3% in net revenue for the fiscal year, which ended Sept. 28, according to financial figures.
Word on the improved annual performance came as Delta Apparel also reported fourth-quarter results better than the previous year. Total company Q4 net sales tallied $108 million – a 16.2% jump over the same three-month span the prior year. Delta’s fourth-quarter 2019 net income was $3.5 million, or $0.50 per diluted share, compared to $3.1 million, or $0.43 per diluted share in 2018’s final quarter.
“We’re thrilled with our overall performance for the quarter and full year,” said Delta Apparel CEO Robert W. Humphreys. “As we look ahead to fiscal 2020, we’re excited to see positive momentum across our business segments.”
With reported 2018 North American promotional product revenue of $46.2 million, Delta Apparel ranked 38th on Counselor’s latest list of the largest suppliers in the industry.