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Delta Galil Industries Q1 profit climbs 12.4% YOY

Delta Galil Industries Ltd. said its normalized net income for the first quarter came to 27 cents per share, a gain of 13.9% from 24 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.9 million, an increase of 12.4% from $6.2 million in the prior-year period.

The normalized profit margin climbed to 2.7% from 2.6% in the year-earlier period.

Total revenue rose 6.2% on an annual basis to $252.8 million from $238.1 million, and total operating expenses increased 6.0% on an annual basis to $237.7 million from $224.3 million.

Reported net income rose on an annual basis to $8.9 million, or 35 cents per share, from $8.7 million, or 34 cents per share.