Sales rise 10% at apparel retailer Ever-Glory in Q2

As of June 30, 2012, Ever-Glory had approximately $7.2 million of cash and cash equivalents, compared to approximately $8.8 million as of December 31, 2011. Ever-Glory had working capital of approximately $39.0 million as of June 30, 2012, and outstanding bank loans of approximately $22.5 million as of June 30, 2012.

Business Outlook

For the third quarter of 2012, Every-Glory anticipates total net sales in the range of $50 to $60 million and net income in the range of $1.8 to $2.0 million. For full year 2012, Every-Glory anticipates total net sales in the range of $210 to $250 million and net income in the range of $9.5 to $12 million. The full year revenue forecast is comprised of $140 to $160 million in anticipated wholesale revenue and $70 to $90 million in anticipated revenue from retail operations.

Based in Nanjing, China, Ever-Glory International Group, Inc. is a leading apparel supply chain manager and retailer in China.

Ever-Glory International Group Inc