Apparel & accessories provider Superior Uniform posts disappointing Q3
28 Oct '05
3 min read
Florida based outstanding apparel and accessories provider Superior Uniform Group Inc announced that for the third quarter ended September 30, 2005, sales were $34,194,000 compared with 2004 third quarter sales of $36,960,340. Net earnings were $158,550 or $.02 per common share (diluted), compared with net earnings of $1,803,113 or $.24 per common share (diluted) in the 2004 third quarter.
For the nine months ended September 30, 2005, sales were $100,910,004, compared with sales of $106,125,651 in the nine months ended September 30, 2004. Net earnings for the nine months ended September 30, 2005 were $944,524 or $.13 per common share (diluted) versus net earnings of $4,210,914 or $.55 per common share (diluted) in the first nine months of 2004.
Michael Benstock, Chief Executive Officer, commented: "Sales for the third quarter were disappointing. They continue to operate in a very price-sensitive and competitive environment. A large part of their customer base has been significantly impacted by rising fuel, energy and transportation costs.
Two significant hurricanes caused some disruption to their primary supply chain as well as directly impacting the operations of several of their customers. Their volume was also lower as a result of the service difficulties that experienced earlier in the year from their warehouse implementation. They are pleased with the operation of the warehouse at this point and they strongly believe that this is a very goodinvestment for the future of the Company.
marketing@alchempro.com
