Talon International, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
November 15, 2014 at 02:34 am IST
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Talon International, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter, the company's total sales for the third quarter ended September 30, 2014 were $11.7 million, reflecting a 14.4% decrease as compared to the same period in 2013 of $13,728,037. Operating income for the third quarter ended September 30, 2014 was $315,000, or 2.7% of sales, as compared to $939,000, or 6.8% of sales, for the same period in 2013. Net income for the quarter was $57,000 against $7.5 million a year ago. Income from operations was $315,122 against $939,025 a year ago. Income before provision for income taxes was $218,251 against $928,384 a year ago.
For the nine months, the company's operating income for the nine months ended September 30, 2014 was $1.9 million as compared to $2.7 million for the same period in 2013. Net income for the period was $889,000 against $7.3 million a year ago. Net sales were $39,052,257 against $40,508,751 a year ago. Income from operations was $1,938,881 against $2,736,501 a year ago. Income before provision for income taxes was $1,621,125 against $2,725,285 a year ago. Diluted net income per share was $0.01 against $0.15 a year ago.
Talon International, Inc. is an apparel company, which specializes in the distribution of trim items to manufacturers of fashion apparel, specialty retailers and mass merchandisers. The Company acts as a full-service outsourced trim management department for manufacturers, a specified supplier of trim items to owners of specific brands, brand licensees and retailers, a manufacturer and distributor of zippers under the Talon brand name and a distributor of stretch waistbands that utilize licensed patented technology under the Tekfit/Adjustec brand name. Its products include Zippers, Trim, Packaging, Adjustec and Bonding. The Zippers products include metal, coil, vintage, plastic, KidZip, and others. The Trim products include paper trims, labels, hardware, heat transfer and others. Its Adjustec products provide shirts, pockets, pants and proprietary. Its Packaging product provides boxes, bags and specialties. The Bonding products include seam sealing tape, overlay, adhesives and flex-it.