Business
Talon International, Inc. Reports 2016 First Quarter Financial Results
Talon International, Inc. Reports 2016 First Quarter Financial Results.
About this update from Talon International, Inc.
[{"type":"text","content":"\n \n \n Talon International, Inc. Reports 2016 First Quarter Financial Results\n \n \nTalon International, Inc. Reports 2016 First Quarter Financial Results\n \n LOS ANGELES, CA--(Marketwired - May 12, 2016) - Talon International, Inc. (OTCQB: TALN), a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, reported financial results for the first quarter ended March 31, 2016. \n Highlights\n \n \n First quarter 2016 revenues increased $457,000, or 4.3%, versus the prior year to $11.3 million\n \nTalon Trim revenues posted a 29% increase versus the prior year \n \n \n \n \n Financial Results \n Sales for the quarter ended March 31, 2016 were $11.3 million, reflecting an increase of $457,000, or 4.3%, as compared to the same period in 2015. The increase was driven by a $1.6 million increase in sales of Talon Trim products, compared to the same period in 2015, which consist primarily of sales to specialty retail branded customers. Sales of Talon Trim products increased during the period mainly due to new stretch technology programs and customers. Talon Zipper product sales in the first quarter of 2016 were $1.1 million lower than the same period in 2015 due to decreased sales to specialty retail brands customers as well as the Company's mass merchandising brand customers. \n \"Talon continued to experience success with its Trim product line, with a revenue gain of 29% over the prior year,\" stated Larry Dyne, Talon's Chief Executive Officer. \"This is as a result of strong customer partnerships and great products, both from our traditional Trim offerings as well as our Tekfit stretch technology. This growth was offset by continued softness in the Zipper product segment. In order to grow our business, we continue to focus on new product introductions, global expansion and entering regions close to our customer base. We're pleased to see quarter over quarter growth in the first quarter and believe our initiatives will result in continued traction in 2016.\" \n Gross profit for the quarter ended March 31, 2016 was $4.2 million, or 37.0% of sales, compared to $3.6 million, or 33.0% of sales, during the same period in 2015, reflecting an increase of $600,000. The increase is principally attributable to higher overall sales volumes and a greater mix of higher-...