• In the third quarter of 2007 the Company had negative operating cash flow of $11.2 million, compared to positive operating cash flow of $4.6 million in the third quarter of 2006.
• In the first nine months of 2007 the Company had negative operating cash flow of $14.4 million compared to positive operating cash flow of $15.3 million in the first nine months of 2006.
CEO Comments on the Quarter results and State of the Business
Mr. Aviram Lahav, Delta's CEO, stated, "The net and operating profit in the third quarter were driven by an increase in sales compared to the first two quarters of the year; our exit from sales of certain unprofitable product categories to customers in the US and in Europe; and the continued implementation of our restructuring plan including the transfer of production to Egypt and to the Far East.
We continue to implement the restructuring plan and are working to reduce production in high cost sites, while transferring production into lower cost countries and reducing overhead. We believe that these measures will improve our business results in 2008.
US Mass Market division sales increased by 2% in the third quarter, which was a major factor in the increase in operating profitability in this division in the quarter compared to the corresponding quarter of last year.
Click here to view more:
Delta Galil Industries Ltd
marketing@alchempro.com
