Delta Apparel Clarifies Recently Reported Third Quarter Fiscal 2005 Per Share Results; Notes that Financial News and Data Services Improperly Reported Per Share Results
DULUTH, Ga.--(BUSINESS WIRE)--May 2, 2005--Delta Apparel, Inc. (AMEX: DLA) noted that for its recently reported third quarter, the Company's diluted earnings per share increased by 39.6% to $1.27 per diluted share (on a pre-split basis) compared to $0.91 in the year-ago period.
As reported on April 28, 2005, the Company will execute a two-for-one stock split (effective as of May 31, 2005). At that time, the post-split earnings per share results for the fiscal third quarter will be reduced to $0.64 per diluted share to reflect the two-for-one stock split. The Company noted that some financial news and data services have not properly communicated its reported earnings per share as a result of the impending stock split. To clarify, the Company noted that its trailing twelve month earnings per share results through April 2, 2005 are $3.16 (on a pre-split basis). Upon the effectiveness of the two-for-one stock split, the trailing twelve month earnings per share results will be $1.58.
About Delta Apparel, Inc.
Delta Apparel, Inc., along with its wholly owned subsidiary M. J. Soffe Co., is a marketer, manufacturer and distributor of high quality branded and private label activewear apparel. We specialize in selling a variety of casual and athletic activewear tops and bottoms, embellished and unembellished T-shirts, and fleece products for the ever-changing apparel market. We focus on our broad distribution of products, currently serving over 13,000 customers. We sell our products to screen printers, private label accounts, sporting goods stores, department stores and distributors. In addition, certain products are sold in college bookstores and to the U.S. Military. Our operations are in the United States, Honduras, Mexico and Costa Rica and we employ approximately 4,300 worldwide. Additional information on our company is available at www.deltaapparel.com.
Statements and other information in this press release that are not reported financial results or other historical information are forward-looking statements. These are based on our expectations and are necessarily dependent upon assumptions, estimates and data that we believe are reasonable and accurate but may be incorrect, incomplete or imprecise. Forward-looking statements are also subject to a number of business risks and uncertainties, any of which could cause actual results to differ materially from those set forth in or implied by the forward-looking statements. The risks and uncertainties include, among others, changes in the retail demand for apparel products, the cost of raw materials, competitive conditions in the apparel and textile industries, the relative strength of the United States dollar as against other currencies, changes in United States trade regulations, the discovery of unknown conditions (such as with respect to environmental matters and similar items) and other risks described from time to time in our reports filed with the Securities and Exchange Commission. Accordingly, any forward-looking statements do not purport to be predictions of future events or circumstances and may not be realized. We do not undertake publicly to update or revise the forward-looking statements even if it becomes clear that any projected results will not be realized.
CONTACT: Delta Apparel, Duluth
Herb Mueller, 678-775-6900
Investor Relations Contact
Bill Zima, 203-682-8200
SOURCE: Delta Apparel
Released May 2, 2005