Ever-Glory International Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2012; Provides Sales Guidance for the Second Quarter and Full Year of 2012
May 11, 2012 at 06:30 am EDT
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Ever-Glory International Group, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net sales of $53,226,173 against $53,208,237 a year ago. Income from operations was $2,763,520 against $3,311,065 a year ago. Income before income tax expense was $2,646,066 against $3,291,017 a year ago. Net income attributable to the company was $2,121,210 against $2,611,996 a year ago. Basic and diluted earnings per share were $0.14 against $0.18 a year ago. Non GAAP net income was $2,010,410 against $2,416,196 a year ago. Non GAAP diluted EPS was $0.13 against $0.17 a year ago.
The company provides sales guidance for the second quarter and full year of 2012, For the second quarter, the company anticipates total net sales of $50 to $60 million and net income of $1.8 to $2.2 million.
For full year, the company anticipates total net sales between $225 and $260 million and net income between $9.5 and $12 million. The full year revenue forecast is comprised of $140 to $160 million in expected wholesale revenue and $85 to $100 million in expected revenue from retail operations.
Ever-Glory International Grou, Inc is a China-based company mainly engaged in retailing of branded fashion apparel and providing global apparel supply chain solution. The Company mainly operates through two segments. The Wholesale segment is mainly engaged in wholesale-channel sales made principally to domestically and internationally recognized brands, and department stores located throughout Europe, the U.S., Japan and the People's Republic of China (PRC). The segment focus on well-known, middle-to-high end casual wear, sportswear, and outerwear brands. The Retail segment is mainly engaged in retail-channel sales directly to consumers through retail stores located throughout the PRC as well as sales via online stores at Tmall, Dangdang mall, JD.com, VIP.com and others.
Ever-Glory International Group, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2012; Provides Sales Guidance for the Second Quarter and Full Year of 2012