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Delta Apparel, Inc (DLA) SEC Filing 10-K Annual report for the fiscal year ending Saturday, October 3, 2015

Delta Apparel, Inc

CIK: 1101396 Ticker: DLA

 
Company Contact:
Deborah Merrill
 
 
Chief Financial Officer
 
 
(864) 232-5200 x6620
 
 
 
 
Investor Relations Contact:
Sally Wallick, CFA
 
 
(404) 806-1398
 
 
investor.relations@deltaapparel.com
                    

Delta Apparel Reports Fiscal 2015 Fourth Quarter and Year-End Results
Strong Improvements in EBIT and EPS on 12.7% Net Sales Growth
        
GREENVILLE, SC – December 14, 2015—Delta Apparel, Inc. (NYSE MKT: DLA) today reported net sales growth for its fiscal year 2015 fourth quarter ended October 3, 2015, of 12.7% over the prior year period, after adjusting for prior year period sales in its recently divested
The Game business. The Game business was sold in the fiscal year 2015 second quarter. Before the adjustment, net sales for the 2015 fourth quarter increased to $120.2 million from $114.9 million in the prior year period. Fourth quarter operating profit grew to $5.1 million, or 4.3% of sales, driving net income to $4.2 million, or $0.53 per diluted share, compared to a net loss of $765 thousand, or $0.10 per diluted share, in the 2014 fourth quarter. Gross margins improved in every business unit, and SG&A costs were down 330 basis points to 17.7% of sales, compared with 21% of sales for the prior year’s fourth quarter.

For the full 2015 fiscal year, the Company achieved net sales growth of 2.5% after adjustment for The Game sales. On an unadjusted basis, net sales were $449.1 million in fiscal year 2015 compared with $452.9 million in the prior year. Operating profit for fiscal 2015 was $16.1 million compared to an operating loss of $1.7 million in the prior year. Net income was $8.1 million, or $1.00 per diluted share, compared with a net loss of $960 thousand, or $0.12 per diluted share, in the prior year.

Basics Segment Review
Net sales in the Company’s basics segment grew 21.1% in the fiscal 2015 fourth quarter, to $74.4 million, compared with $61.4 million in the prior year period. Activewear sales increased 19.6%, driven by a 9% increase in the catalog business and a 46% increase in private label sales. New products such as fleece, Delta-Dri® and snow heathers as well as solid increases in “full package” programs drove catalog growth during the quarter. These full package programs, which include decorated and retail-packaged products, inherently bring the added benefit of strengthening customer relationships and, as a result, enhance the potential for future sales. Expanded programs with current customers and programs with new customers were the growth drivers


The following information was filed by Delta Apparel, Inc (DLA) on Monday, December 14, 2015 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 (loss) Statement
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Acquisitions
Acquisitions (details)
Acquisitions Business Acquisition (tables)
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 (narrative) (details)
Repurchase Of Common Stock (shares Repurchased) (details)
Repurchase Of Common Stock Stock Repurchased (tables)
Sale Of The Game
Sale Of The Game (details)
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-exercise Price Range (details)
The Company
Ticker: DLA
CIK: 1101396
Form Type: 10-K Annual Report
Accession Number: 0001101396-15-000033
Submitted to the SEC: Tue Dec 15 2015 2:12:48 PM EST
Accepted by the SEC: Tue Dec 15 2015
Period: Saturday, October 3, 2015
Industry: Wholesale Apparel Piece Goods And Notions

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