Delta Apparel Announces Preliminary Second Quarter Results

Earnings improve approximately 30% over prior year, with diluted EPS between $0.16 and $0.18

Preliminary second quarter net sales of $96.7 million

Announces business update conference call to be held today, April 17th, 2020 at 8:30 a.m. ET

GREENVILLE, S.C., April 17, 2020 (GLOBE NEWSWIRE) -- Delta Apparel, Inc. (NYSE American: DLA), a leading provider of core activewear and lifestyle apparel products, today provided preliminary results for its 2020 second quarter and announced that it will host a business update conference call today, Friday, April 17, 2020 at 8:30 a.m. ET.   

Robert W. Humphreys, the Company’s Chairman and Chief Executive Officer, commented, “All businesses are currently operating in an unprecedented and difficult environment.  It is during times like now that we are especially proud of the strategic advantages within Delta Apparel, including our diversification of sales channels and our broad geographic footprint.  Through the disruptions that have taken place worldwide, we have been able to stay open and operate our business with current inventory levels sufficient to service customers in the near-term.  Although sales in many of our distribution channels, including traditional retailers and our own branded stores, are considerably lower or even curtailed, we are seeing positive results in other areas of our business. About 25% of our business is generated through sales channels that have not been significantly impacted by COVID-19, including our e-Commerce sites, DTG2Go, and our military businesses.  In fact, in April we are actually seeing meaningful acceleration in our branded direct-to-consumer e-commerce sites and in our DTG2Go on-demand business.  Customers are clearly seeing the benefits and the uniqueness of our fully-integrated and diversified geographic digital printing model, and we are gaining share in this market.”

The Company anticipates net sales for the second quarter of its 2020 fiscal year to be $96.7 million, which represents a 6.0% decrease compared to $102.8 million in the prior year period.   Prior to the March impact of COVID-19, the Company was on pace to achieve sales growth of approximately 9% for the quarter.  The Company anticipates second quarter earnings per diluted share to be within a range of $0.16 to $0.18 compared to $0.13 in the prior year period.