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Superior Group Of Companies, Inc. (SGC) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Superior Group Of Companies, Inc.

CIK: 95574 Ticker: SGC

EXHIBIT 99.1

NEWS RELEASE

Superior Group of Companies, Inc.

A NASDAQ Listed Company: SGC                    

10055 Seminole Boulevard

Seminole, Florida 33772-2539

Telephone (727) 397-9611

Fax (727) 803-2642

FOR IMMEDIATE RELEASE

 

SUPERIOR GROUP of COMPANIES, INC. REPORTS THIRD QUARTER

OPERATING RESULTS

 

 

Record Earnings Per Share at $0.39

 

Net Sales Increase of 41.4 percent

 

24th Consecutive Quarterly Sales Increase

 

 

SEMINOLE, Florida – October 25, 2018 - Superior Group of Companies, Inc. (NASDAQ: SGC), manufacturer of uniforms, career apparel and accessories (the “Company”), today announced that for the third quarter ended September 30, 2018, net sales increased 41.4 percent to $95.9 million compared with 2017 third quarter net sales of $67.8 million. Net income for the 2018 third quarter was $6.1 million, or $0.39 per diluted share, compared with $5.0 million, or $0.33 per diluted share, reported for the quarter ended September 30, 2017.

 

Michael Benstock, Chief Executive Officer commented, “The strategic benefits of our 2017 and 2018 acquisitions remain clear, and we are well positioned for future sales and earnings growth as a result. We remain focused on continuing to successfully integrate these businesses to provide additional sales and operational efficiencies across our company portfolio. We are confident that this strategy will provide long term benefits to our stakeholders.

 

While organic growth within our Uniform and Promotional Products segments was lower than anticipated, we are bullish on the long term outlook for these segments, and believe our current investments in these segments will provide significant returns for the Company in the future.

 

The Office Gurus, our Remote Staffing segment reported another outstanding quarter with sales growth in excess of 35% as they continue to expand through both new customer acquisition and existing customer sales.

 

-more-

 

 

The following information was filed by Superior Group Of Companies, Inc. (SGC) on Thursday, October 25, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Superior Group Of Companies, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Superior Group Of Companies, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Current Period Unaudited)
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Note 1 - Summary Of Significant Interim Accounting Policies
Note 1 - Summary Of Significant Interim Accounting Policies (Details Textual)
Note 1 - Summary Of Significant Interim Accounting Policies (Tables)
Note 1 - Summary Of Significant Interim Accounting Policies - Adjustments To Retained Earnings (Details)
Note 1 - Summary Of Significant Interim Accounting Policies - Disaggregation Of Net Sales By Major Source (Details)
Note 1 - Summary Of Significant Interim Accounting Policies - Impact Of New Standard On Consolidated Balance Sheet (Details)
Note 1 - Summary Of Significant Interim Accounting Policies - Impact Of New Standard On Statement Of Comprehensive Income (Details)
Note 2 - Long-Term Debt
Note 2 - Long-Term Debt (Details Textual)
Note 2 - Long-Term Debt (Tables)
Note 2 - Long-Term Debt - Long-Term Debt (Details)
Note 3 - Periodic Pension Expense
Note 3 - Periodic Pension Expense (Details Textual)
Note 3 - Periodic Pension Expense (Tables)
Note 3 - Periodic Pension Expense - Net Periodic Benefit Cost (Details)
Note 4 - Supplemental Cash Flow Information
Note 4 - Supplemental Cash Flow Information (Details Textual)
Note 5 - Contingencies
Note 6 - Share-Based Compensation
Note 6 - Share-Based Compensation (Details Textual)
Note 6 - Share-Based Compensation (Tables)
Note 6 - Share-Based Compensation - Performance Share Transactions (Details)
Note 6 - Share-Based Compensation - Restricted Stock Transactions (Details)
Note 6 - Share-Based Compensation - Shared-Based Compensation Expense And The Related Tax Benefit (Details)
Note 6 - Share-Based Compensation - Stock Appreciation Rights Outstanding (Details)
Note 6 - Share-Based Compensation - Stock Option Transactions (Details)
Note 6 - Share-Based Compensation - Stock Options Outstanding (Details)
Note 6 - Share-Based Compensation - Stock-Settled Stock Appreciation Rights Transactions (Details)
Note 6 - Share-Based Compensation - Summary Of Significant Assumptions For Share-Based Compensation Awards (Details)
Note 7 - Earnings Per Share
Note 7 - Earnings Per Share (Details Textual)
Note 7 - Earnings Per Share (Tables)
Note 7 - Earnings Per Share - Reconciliation Of Basic And Diluted Earnings Per Share (Details)
Note 8 - Operating Segment Information
Note 8 - Operating Segment Information (Details Textual)
Note 8 - Operating Segment Information (Tables)
Note 8 - Operating Segment Information - Information Related To The Operations Of The Company's Operating Segments (Details)
Note 9 - Acquisition Of Businesses
Note 9 - Acquisition Of Businesses (Details Textual)
Note 9 - Acquisition Of Businesses (Tables)
Note 9 - Acquisition Of Businesses - Aggregate Consideration (Details)
Note 9 - Acquisition Of Businesses - Purchase Price (Details)
Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

Superior Group Of Companies, Inc. provided additional information to their SEC Filing as exhibits

Ticker: SGC
CIK: 95574
Form Type: 10-Q Quarterly Report
Accession Number: 0001437749-18-018747
Submitted to the SEC: Thu Oct 25 2018 9:21:31 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Apparel And Other Finishd Prods Of Fabrics And Similar Matl

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