Tefron Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 26, 2021 at 08:43 pm IST
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Tefron Ltd. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was USD 57.905 million compared to USD 34.636 million a year ago. Operating income was USD 4.822 million compared to USD 240,000 a year ago. Net income was USD 3.518 million compared to net loss of USD 520,000 a year ago. Basic earnings per share from continuing operations was USD 0.3 compared to basic loss per share from continuing operations of USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.29 compared to diluted loss per share from continuing operations of USD 0.04 a year ago.
Tefron Ltd. focuses on the development, production, marketing and sale of intimate apparel and activewear. The Company operates through two segments: Brands and Retail. The Brands segment is engaged in the design, development, production and marketing of seamless intimate apparel and activewear, and leisurewear, which are manufactured in the Company's plants and through subcontractors, and are sold to customers through brands. The Retail segment is involved in the design, development, production and marketing of seamless intimate apparel and activewear, and leisurewear, which are sold around the world to customers in the retail market. Its production operations are carried out in plants located in Israel, Jordan and the Far East. The Company's subsidiaries include Macro Clothing Ltd, Tefron Canada Inc., Tefron Holdings (98) Ltd. and Tefron USA Inc.