Brief: Delta Apparel Q2 earnings per share $0.43

Delta Apparel

12/05/2016 12:30

May 12 (Reuters) - Delta Apparel  DLA.A  : 
    * Q2 earnings per share $0.43 
    * Initiating a manufacturing realignment that will result in 
closure of its textile manufacturing operation in maiden, north 
carolina 
    * Realignment to significantly lower production costs,  
improving gross margins and increasing earnings by up to $0.70 
per diluted share 
    * Says decision to close maiden plant and eliminate jobs of 
approximately 160 employees 
    * Realignment expected to significantly lower production 
costs, increasing earnings by up to $0.70 per diluted share 
    * Expenses of approximately $3 million, or $0.28 per diluted 
share, are expected in fiscal 2016 as part of realignment 
    * Says also recently entered into a new loan agreement that 
extends current $145 million credit facility for five additional 
years 
    * Savings in back half of fiscal 2017 expected to annualize 
at approximately $8 million 
    * Reports Fiscal 2016 Second Quarter And Six-Month results 
    * Q2 sales $109.2 million 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nGNXMRKJHa 
Further company coverage:  DLA.A  
 
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