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
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Delta Apparel Inc. recently 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.
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