January 10, 2022
Delta Apparel Reports Sales Rise in Fiscal Q1
The company is a Top 40 promotional products supplier.
Delta Apparel (asi/49172) executives say the Top 40 promotional products supplier has started its new fiscal year strong.
The Duluth, GA-headquartered firm announced Monday, Jan. 10, that total company net sales for its 2022 fiscal first quarter, ended Jan. 1, increased approximately 15% to about $109 million, according to a preliminary analysis. The tally includes revenue from all Delta Apparel’s sales channels, including the promo products market.
Full results, including word on earnings, are expected to be released Feb. 8.
Robust demand across all of Delta Apparel’s business units drove the sales gain, with the company’s Delta Group and Salt Life Group divisions each achieving double-digit year-over-year growth, executives said.
“We have demonstrated over the past year Delta Apparel has a strong vertical supply chain that is diversified, reliable and delivers value adding services that are in high demand,” said Robert W. Humphreys, Delta Group’s CEO and chairman. “This, combined with our unique technology and print-on-demand business, DTG2Go, positions us uniquely in the marketplace.”
“Further,” Humphreys continued, “our high growth, high margin Salt Life branded business provides an additional platform to drive value for our shareholders while further leveraging our manufacturing, sourcing and design capabilities.”
For its fiscal 2021 year, which concluded at the end of September 2021, Delta Apparel’s sales were $436.8 million, up 14.6% from the prior fiscal year. Net income was $20.3 million, or $2.86 per diluted share.
With estimated 2020 North American promo product market revenue of $40.8 million, Delta Apparel ranked 35th on Counselor’s most recent list of the largest suppliers in the industry.