Business
Talon International, Inc. Reports 2015 Second Quarter and Six Months Financial Results
Talon International, Inc. Reports 2015 Second Quarter and Six Months Financial Results.
About this update from Talon International, Inc.
[{"type":"text","content":"\n \n \n Talon International, Inc. Reports 2015 Second Quarter and Six Months Financial Results\n \n \nTalon International, Inc. Reports 2015 Second Quarter and Six Months Financial Results\n \n LOS ANGELES, CA--(Marketwired - Aug 14, 2015) - Talon International, Inc. (OTCQB: TALN), a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, reported financial results for the second quarter and six months ended June 30, 2015. \n Highlights\n \n \n Sales in Q2 2015 were $15.8 million, a 1.1% decrease versus Q2 2014\n \nTalon Tekfit stretch technology posted sales gains of $601,000 over Q2 2014\n \nIn the third quarter, Talon entered into a new loan arrangement and amended the Credit Agreement with its bank, adding financial flexibility\n \n \n \n \n Financial Results\n Sales for the quarter ended June 30, 2015 were $15.8 million, reflecting a decline of $172,000 or 1.1% as compared to the same period in 2014. Talon Zipper sales for the quarter were $8.6 million, or $80,000 lower than the same period in 2014, decreasing by $898,000 within our mass merchandising brand customers as compared to 2014, offset by an increase of $818,000 in sales to our specialty retail brands customers. Talon Trim revenues declined by $693,000 compared to the same period in 2014 to $6.6 million. Substantially all Talon Trim sales are to the Company's specialty retail branded customers. Talon Tekfit sales increased by $601,000 compared to the same period in 2014 (which had only minimal sales), mainly due to new Talon Tekfit programs and customers. Sales for the six months ended June 30, 2015 were $26.6 million, a decrease of 2.6% from the same period in 2014.\n \"We continued to make progress on our strategic initiatives in the second quarter, while focusing on future expansion and growth,\" stated Larry Dyne, Talon's Chief Executive Officer. \"The traction we're experiencing in our TekFit stretch technology brand was a bright spot in the quarter, as we continue to see momentum build for these innovative products with existing and new customers. For our Zipper and Trim products, we continue to focus on opportunities to cross sell products and penetrate key existing accounts within our specialty retail brand customers with new and expanded programs. In addition, our new financing arrangement is a positive for the Company...