General and administrative expenses for the three months ended Matotaled $2.3 million, or 20.7% of sales, compared to the prior year of $2.4 million, or 21.6% of sales. Expenses were lower by $127,000 compared to the same period in 2016, mainly due to reduced professional and legal costs, offset by additional IT support costs. Sales and marketing expenses totaled $1.6 million, an increase of $105,000 as compared to the same period in 2016, mainly due to additional compensation costs, increased travel and entertainment expenses and additional administrative costs, offset by reduced facilities and related expenses. Gross profit for the quarter ended Mawas $4.1 million, or 36.8% of sales, compared to $4.2 million, or 37.0% of sales, in the first quarter of 2016. The gross profit decrease is largely attributable to an inventory write down of certain zipper stock and a change in product mix, offset by lower freight and duty costs and higher sales volumes for Talon Trim products. Operating expenses for the quarter ended Mawere essentially flat from the prior year at $3.9 million. "Our year-over-year increase in the Trim business was a highlight this quarter, as we gained traction with customers and products," stated Larry Dyne, Talon's Chief Executive Officer. "As we focus on offering Fit for Purpose Zipper products to the market, we held two significant zipper marketing events in the first quarter, building awareness of Talon's influential history and current breadth of zipper offerings. As we look ahead to the remainder of 2017, our team will continue its customer-centric approach as we focus our sales efforts on those manufacturers and retailers who meet our standards of profitability and product innovation." Revenues for the three months ended Mawere $11.1 million, reflecting a decrease of $147,000 or -1.3% as compared to the same period in 2016. Talon Zipper sales were $476,000 lower than the same period in 2016 due to decreased sales to mass merchandising brand customers and specialty retail brands customers. Talon Trim products, which consist primarily of sales to specialty retail branded customers, increased by $329,000 compared to the same period in 2016, mainly due to new stretch technology programs and customers. Trim revenues posted a 4.7% increase versus the prior year. Overall revenues decreased 1.3 % from the prior year as Trim sales continued to increase while Zipper sales declined.( OTCQB: TALN), a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, reported financial results for the first quarter ended March 31, 2017. LOS ANGELES, CA-(Marketwired - May 11, 2017) - Talon International, Inc.
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