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Delta Galil Industries Q2 profit falls YOY

Delta Galil Industries Ltd. said its normalized net income for the second quarter came to 27 cents per share, a decrease of 9.5% from 30 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.9 million, a decline of 9.0% from $7.6 million in the prior-year period.

The normalized profit margin declined to 2.7% from 3.0% in the year-earlier period.

Total revenue grew year over year to $255.5 million from $249.2 million, and total operating expenses climbed year over year to $240.7 million from $234.0 million.

Reported net income fell on an annual basis to $9.3 million, or 36 cents per share, from $9.7 million, or 38 cents per share.