logo
Plus   Neg
Share
Email
Comment

Ever-Glory International Group Q2 Profit Rises - Quick Facts

Ever-Glory International Group Inc. (EVK), a apparel supply chain manager and retailer based in China, reported that net income for the second quarter of 2013 was $2.7 million, or $0.18 per share, an increase from $2.4 million or $0.16 per share in the second quarter of 2012.

Net income in the second quarter of 2012 includes approximately $0.2 million, or $0.01 per share, of non-cash income related to the change in fair value of a derivative liability. The change in fair value of a derivative liability in the second quarter of 2013 was not significant.

Excluding this non-cash item for the second quarter 2013 and 2012, non-GAAP earnings per share were $0.18 in the second quarter of 2013 compared to $0.15 in the second quarter of 2012.

Total sales for the quarter were $59.1 million, an increase of 25.3% compared to $47.2 million in the second quarter of last year. This increase was primarily attributable to increased sales in Ever-Glory's retail business, which was partially offset by decreased sales in our wholesales business.

For the third quarter of 2013, Every-Glory anticipates total net sales in the range of $70 to $80 million and net income in the range of $2 to $2.5 million. For full year 2013, Every-Glory anticipates total net sales in the range of $300 to $360 million and net income in the range of $11 million to $17 million. The full year revenue forecast is comprised of $150 million to $180 million in anticipated wholesale revenue and $150 million to $180 million in anticipated revenue from retail operations.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Athletic footwear giant Nike, Inc. on Thursday announced a new marketing head, in its efforts to boost market share. The company promoted Dirk-Jan "DJ" van Hameren as its VP, Chief Marketing Officer, effective immediately. Van Hameren will succeed Greg Hoffman, who has been appointed VP, Global Brand Creative & Marketing Innovation Amazon.com Inc. (AMZN) said Thursday that it has chosen the 20 metropolitan areas to move to the next phase of the selection process for the company's second headquarters. The company plans to invest over $5 billion and grow the second headquarters to accommodate as many as 50,000 high-paying jobs. Morgan Stanley (MS) reported net income applicable to company of $686 million, or $0.29 per share for the fourth quarter ended December 31, 2017. The results for the current quarter included a net discrete tax provision of $990 million or a loss of $0.55 per share. Excluding net discrete tax items, net...
comments powered by Disqus
Follow RTT