Delta Apparel profit up 89%

Greenville-based Delta Apparel, Inc. continued its strong earnings growth, reporting today record sales and an 88.8% increase in net income for its fiscal year ended July 3. For the fourth quarter, net sales increased 20.5% to $126.2 million, and net income was $5.7 million, up from 42% from $4 million in the prior-year quarter. Gross margins improved 70 basis points to 23.9%. For the year, net sales increased 19.5% to a record $424.4 million, from $355.2 million in the prior year. Net income increased 88.8% to $12.2 million versus $6.5 million in fiscal year 2009. “We are encouraged to