Business
Talon International, Inc. Reports 2017 Third Quarter and Nine Months Financial Results
Talon International, Inc. Reports 2017 Third Quarter and Nine Months Financial Results.
About this update from Talon International, Inc.
[{"type":"text","content":"\n\n LOS ANGELES, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Talon International, Inc. (OTCQB:TALN), a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, reported financial results for the third quarter ended September 30, 2017.\n Financial Results Revenues for the three months ended September 30, 2017 were $9.8 million, reflecting a decrease of $1.1 million, or 9.8%, as compared to the same period in 2016. Talon Zipper sales were $396,000 lower than the same period in 2016. Talon Trim products, which consist primarily of sales to specialty retail branded customers, decreased by $671,000 compared to the same period in 2016. Both business segments experienced decreased sales to mass merchandising brand customers and specialty retail brands customers. Revenues for the nine months ended September 30, 2017 were $33.8 million, a decrease of 7.6% from the same period in 2016. “As a management team, we remain committed to our corporate initiatives including innovating new products, offering value-add services to our existing customers, and maximizing new growth opportunities,” stated Larry Dyne, Talon's Chief Executive Officer. “Once again this quarter, we experienced the negative effects of a sluggish brick and mortar retail environment. However, we intend to hold our footprint in the current business, as well as dedicate resources to additional opportunities as the market evolves. Specifically, increasing penetration of ecommerce retailers represents a significant growth opportunity. A positive for us this quarter is that margins have held steady as a result of our concentration on the right mix of product and customers - customers that generally require higher quality and differentiated products and greater customer service. Additionally, we believe we are positioned to quickly adapt and grow in a global apparel environment that is constantly evolving. We have recently received a patent for expandable and flexible shirt collar technology which further displays Talon’s focus on innovation and commitment to bring new garment technology to the apparel market.” Gross profit for the quarter ended September 30, 2017 was $3.5 million, or 35.4% of sales, compared to $3.8 million, or 35.0% of sales, in the third quarter of 2016. The gross profit decrease is largely attributa...