Per share amounts for the current period reflect 600,000 shares issued in conjunction with the acquisition of the home décor product line of Taresha LLC, 600,000 shares issued for the acquisition of the Saguaro marks, 406,137 shares issued on April 27, 2007 pursuant to the terms of a stock purchase agreement, to Sojitz Corporation, a Japanese corporation, for $1.5 million, and the dilutive effects of stock options issued during the period.
At May 31, 2007, the Company had unfilled customer orders of $45.2 million compared to $38.8 million at the same time last year, with such orders generally scheduled for delivery by November 2007 and November 2006, respectively.
The increase in backlog is due primarily to the inclusion of home décor order backlog and organic growth in the Company's branded women's sleepwear and branded men's sportswear lines. The amount of unfilled orders at any given time is affected by a number of factors, including the timing of the receipt and processing of customer orders and the scheduling of the manufacture and shipping of the product, which may be dependent on customer requirements.
"We are pleased with our growth in sales and our success in arranging the funding to continue to finance this growth," commented Steve Wyandt, Chairman and CEO.
Backlog amounts include both confirmed orders and unconfirmed orders that the Company believes, based on industry practice and past experience, will be confirmed. While cancellations, rejections and returns have generally not been material in the past, there can be no assurance that such action by customers will not reduce the amount of sales realized from the backlog of orders at May 31, 2007.
marketing@alchempro.com
