US lifestyle and activewear company Delta Apparel has reported record sales in the first quarter of fiscal 2022.
In the three months to January 1, the company made net sales of 110.7 million dollars, up 17 percent from a year ago.
Its gross margin fell to 20.8 percent from 21.4 percent the prior year, which it said was in line with expectations and “largely driven by the pressure of inflationary costs in our manufacturing operations”.
The company’s net income came in at 3.6 million dollars, up from 0.9 million dollars a year earlier.
“We delivered strong first-quarter results that not only exceeded our expectations but reached a first-quarter record for our company,” said Delta Apparel chair and CEO Robert W. Humphreys in a statement.
“Our manufacturing output continues to reach record levels and we remain on track to bring additional capacity online during the second half of 2022 to meet our customers’ demand,” he said.