Broder Bros. Co. Announces Fourth Quarter and Fiscal Year 2010 Results
Trevose, Pennsylvania-based Broder Bros. Co. announced results for its fourth quarter and fiscal year ended Dec. 25. The results are consistent with the preliminary results included in the company's report issued on March 8.
Revenue for the company was up for the fourth quarter, with net sales of $215.7 million compared to $182.8 million for the same period last year. Net income was also up, at $10.1 million for the end-of-year period. In fourth quarter 2009, the company had a net loss of $2.9 million.
Broder Bros. Co. also reported an increase in market share during the fourth quarter 2010. The U.S. imprintable activewear market grew 7 percent in units sold during the fourth quarter 2010. For the same period, Broder Bros. Co. reported a 14 percent growth in the sale of imprintable activewear.
Overall, the company reported stronger numbers for 2010 over the previous year, with net sales of $791.3 million, compared to $705.2 million for 2009. Gross profit margins for the year were up 2 percent, to 18.6 percent. Broder Bros. Co. attributed the profitable year to an increase in units sold, sale of products purchased when cotton and other costs were lower, improved pricing and reduced expenses from restructuring.
"We are gratified by our customers' continued commitment to Alpha, Broder and NES," said Tom Myers, CEO of Broder Bros. Co. "We promised that we'd fulfill flawlessly, stay in-stock and match any competitive price. Our growth shows that it's clearly paying off for our customers."
The full report is available in PDF at www.broderbros.com.