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Delta Apparel, Inc (DLA) SEC Filing 10-K Annual report for the fiscal year ending Saturday, June 29, 2013

Delta Apparel, Inc

CIK: 1101396 Ticker: DLA


Delta Apparel Reports FY13 Fourth Quarter and Year-End Results
Marks Ten Consecutive Years of Record Sales
The Company Changes Fiscal Year-End to September for Subsequent Years
        

GREENVILLE, SC-August 28, 2013-Delta Apparel, Inc. (NYSE MKT: DLA) today reported that net sales for the fiscal year ended June 29, 2013 increased to $490.5 million from $489.9 million in fiscal 2012, marking the Company's tenth consecutive year of record sales. Net income for fiscal 2013 was $9.2 million, or $1.08 per diluted share, compared with a net loss in fiscal 2012 of $2.4 million, or $0.29 loss per diluted share. The net loss in fiscal 2012 was primarily due to the previously disclosed 2012 second quarter inventory markdown in the Company's basics segment, which was necessitated by unprecedented, record-high cotton costs.

Strong net sales gains in the Company's basics segment along with similar growth in the Company's Junkfood, The Game and Art Gun businesses drove the record revenue for the year. These gains were somewhat offset by softness in the Soffe business that continued through the fiscal year. In addition to the Company's record high consolidated revenue, improved margins across most business units drove the net income gains for fiscal 2013.

For the fiscal 2013 fourth quarter, net sales were $133.6 million compared to $135.4 million for the comparable 2012 quarter. Net income for the 2013 fourth quarter was $4.0 million, or $0.48 per diluted share, compared to $4.8 million, or $0.55 per diluted share, in the 2012 fourth quarter. While operating profit for fourth quarter 2013 was higher than that of the comparable 2012 period, net income was negatively impacted by a less favorable tax treatment in the 2013 period.

All of the Company's business units other than Soffe experienced revenue growth for both the full year and fourth quarter. Excluding Soffe, higher unit sales in both the branded and basics segments were somewhat offset by lower average selling prices.

Branded Segment Review
All of the Company's branded segment businesses other than Soffe experienced strong sales growth during fiscal 2013; however, the 12% increase in combined sales for Junkfood, The Game and Art Gun was offset by a 24% sales decline in the Soffe business. As such, fiscal 2013 branded segment sales declined to $219.6 million from $235.2 million in fiscal 2012. Art Gun continued its rapid growth with a 94% increase in sales. The Game posted an 11% revenue increase, driven primarily by rapid growth in the Salt Life product line, which experienced nearly 50% sales growth in fiscal 2013. The popular Junkfood brand grew sales 8% as



The following information was filed by Delta Apparel, Inc (DLA) on Wednesday, August 28, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Consolidated Valuation And Qualifying Accounts
Schedule Ii - Consolidated Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income Statement
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Acquisitions
Acquisitions (details)
Business Segments
Business Segments (details)
Business Segments (tables)
Commitments And Contingencies
Commitments And Contingencies (derivatives) (details)
Commitments And Contingencies (letters Of Credit) (details)
Commitments And Contingencies (license Agreements) (details)
Commitments And Contingencies (purchase Contracts) (details)
Commitments And Contingencies (tables)
Commitments And Contingencies Litigation (details)
Employee Benefit Plans
Employee Benefit Plans (details)
Employee Benefit Plans (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (details)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Income Taxes Textuals (details)
Inventories
Inventories (details)
Inventories (tables)
Leases
Leases (details)
Leases (tables)
Long-term Debt
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Aggregate Maturities) (details)
Long-term Debt (schedule Of Debt Instruments) (details)
Long-term Debt (tables)
Property, Plant And Equipment
Property, Plant And Equipment (details)
Property, Plant And Equipment (tables)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (details)
Quarterly Financial Information (unaudited) (tables)
Repurchase Of Common Stock
Repurchase Of Common Stock (details)
Repurchase Of Common Stock (tables)
Significant Accounting Policies
Significant Accounting Policies (details)
Significant Accounting Policies (policies)
Significant Accounting Policies (tables)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (tables)
Stock-based Compensation Summary Of Nonvested Options (details)
Stock-based Compensation Summary Of Stock Option Activity (details)
Stock-based Compensation Weighted Average Grant Date Fair Values And Assumptions (details)
Stock-based Compensation-exercise Price Range (details)
Subsequent Events
Subsequent Events (details)
The Company
Ticker: DLA
CIK: 1101396
Form Type: 10-K Annual Report
Accession Number: 0001101396-13-000025
Submitted to the SEC: Thu Aug 29 2013 12:33:55 PM EST
Accepted by the SEC: Thu Aug 29 2013
Period: Saturday, June 29, 2013
Industry: Wholesale Apparel Piece Goods And Notions

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