expected growth in sales of our swimwear product line.
As a result of the above, Tefron now expects revenues for the year 2007 as a whole to be below those of 2006 and profitability to be significantly lower than that achieved in 2006.
Management Comments : Mr. Yos Shiran, Chief Executive Officer of Tefron, commented, "The expected reduction in our second quarter and third quarter revenues has led us to lower our expectations for the remainder of the year."
"Despite this,we currently expect an improvement in sales in the fourth quarter mainly due to positive indications received from Nike and due to an expected growth in sales of our swimwear product line."
"Our working relationship with Nike is strong, and it remains a central part of our strategy driving our long-term growth in the active wear. We believe that our long-term business and market fundamentals remain strong."
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