Tefron Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 12:38 pm
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Tefron Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 61.23 million compared to USD 48.06 million a year ago. Net income was USD 3.34 million compared to USD 0.083 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to USD 0.01 a year ago.
For the nine months, sales was USD 181.63 million compared to USD 159.67 million a year ago. Net income was USD 8.19 million compared to USD 5.36 million a year ago. Basic earnings per share from continuing operations was USD 0.66 compared to USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 0.64 compared to USD 0.41 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.