Superior Uniform Group Inc. Reports Second Quarter Operating Results
Seminole, Florida-based Superior Uniform Group Inc., manufacturer of uniforms, career apparel and accessories, recently announced net sales for the 2015 second quarter increased 1.7 percent to $54.1 million, compared with 2014 second quarter net sales of $53.2 million.
Net income for the 2015 second quarter was $3.6 million, or $0.25 per diluted share, compared with $3.9 million, or $0.29 per diluted share, reported in 2014.
"We are pleased to report a net sales increase for the 11th consecutive quarter and for the 17th time in the last 18 quarters,” said Michael Benstock, CEO of Superior Uniform Group Inc. “This is particularly gratifying given the fact that the prior year[‘s] second quarter included a large rollout of a new uniform program for one customer, as well as a large promotional products order for another customer. As we indicated in previous earnings releases and conferences, these two programs contributed approximately $7.5 million in net sales in the second quarter of 2014. While we continue to service these two customers, these two large orders were not expected to provide recurring revenue at these levels.
"Producing additional organic revenue growth in excess of 15 percent enabled us to replace the revenue from these two opportunities and to report a net 1.7 percent increase in net sales," Benstock added. "We continue to see positive results from our growth strategies, and market and economic trends remain favorable. Our financial position remains very strong, and we are committed to actively pursuing accretive acquisitions to supplement our strong organic growth and profitability.”
For more information, visit www.superioruniformgroup.com.