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Delta Galil Industries Q2 profit falls YOY

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Delta Galil Industries Q2 profit falls YOY

Delta Galil Industries Ltd. said its second-quarter normalized net income was 22 cents per share, a decrease of 6.0% from 24 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 $5.7 million, a decrease of 8.1% from $6.2 million in the year-earlier period.

The normalized profit margin fell to 1.7% from 2.5% in the year-earlier period.

Total revenue rose 36.4% on an annual basis to $340.5 million from $249.5 million, and total operating expenses grew 36.8% on an annual basis to $324.2 million from $237.0 million.

Reported net income rose 14.1% from the prior-year period to $8.9 million, or 35 cents per share, from $7.8 million, or 30 cents per share.