Business
Talon International, Inc. Reports 2015 Fourth Quarter and Fiscal Year Financial Results
Talon International, Inc. Reports 2015 Fourth Quarter and Fiscal Year Financial Results.
About this update from Talon International, Inc.
[{"type":"text","content":"\n \n \n Talon International, Inc. Reports 2015 Fourth Quarter and Fiscal Year Financial Results\n \n \nTalon International, Inc. Reports 2015 Fourth Quarter and Fiscal Year Financial Results\n \n LOS ANGELES, CA--(Marketwired - Mar 24, 2016) -  Talon International, Inc. (OTCQB: TALN), a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, reported financial results for the fourth quarter and fiscal year ended December 31, 2015. \n Highlights\n \n \n Fourth quarter 2015 revenues increased $1.5 million or 14.6% versus the prior year to $11.8 million\n \nFiscal 2015 revenues declined 2.0% versus the prior year to $48.4 million\n \nTalon Trim revenues posted a 10% increase versus the prior year\n \nFinalized a $6 million credit line with a new lender, adding financial flexibility\n \nIn 2015, as part of Talon's ongoing efforts to find new and innovative ways to drive sales and position itself for growth, continuing investments were made in the Company's global salesforce and expansion of its geographic footprint, as well as the release of new product innovations such as fit-for-purpose workwear and footwear zippers. The Company also focused organizationally on a more flexible, customer-centric service model \n \n \n \n \n Financial Results \n Total sales for the year ended December 31, 2015 were $48.4 million, reflecting a 2.0% year-over-year decrease compared to 2014, principally the result of a nearly $3.7 million decline in sales to mass merchandising customers in this increasingly price sensitive area of the retail market, a trend that began in early 2014. Talon Zipper sales were $21.3 million in 2015, as compared to $24.7 million for the same period in 2014; a decrease of 13.9% reflecting the mass merchandising sector sales trend as the Company continued to focus on the specialty retail sector and position itself for more premium product and higher margin business. Partially offsetting the Zipper sales decline, Talon Trim sales of $27.1 million reflected a 10% increase from 2014. Specialty apparel customers continued to be the Company's strategic focus, and sales to new brands added $3.8 million in 2015. Total sales for the fourth quarter ended December 31, 2015 were $11.8 million, reflecting a 14.6% increase from the same period in 2014. Total sales for the quar...