1.52% -0.04

Delta Apparel Inc. (DLA)

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Why is Delta Apparel Inc. (DLA) Stock down?

We've noticed a 8.56% decline in Delta Apparel Inc. (DLA) stock during the 2024-04-30 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

08 Dec, 2023:

Shares of Delta Apparel Inc. (DLA) dropped by 15.45% from $8.87 to $7.50 in the trading on Friday, December 8, 2023. The reason why is DLA down today is due to the release of the company's Q4 financial results.

Q4 Highlights: Q4 net sales were $91.4 million, down from $115.5 million in the prior year. The Salt Life Group segment reported Q4 net sales of $12.5 million, compared to $14 million in the previous year. The Delta Group segment's Q4 net sales were $78.9 million, down from $101.5 million in the previous year. Gross margins were 11.2%, impacted by production curtailment and elevated cotton costs. Adjusted gross margins, excluding these costs, were 15.9%. Operating income turned into a loss of $17 million due to various costs. Q4 net income was a loss of $16.4 million, or ($2.34) per share.
Full Year Highlights: Full-year net sales for 2023 were $415.4 million, down from $484.9 million in the prior year. Gross margins for the year were 13.0%, with adjusted gross margins at 21.2%. Operating income for the year declined to a loss of $29.4 million. Full-year net income was a loss of $33.2 million, or ($4.75) per share.