- Q2 profit plummets 35.5% to $814,475
- Sales fall 4.1% to $16m
- Zipper sales down 9.3%
Apparel fastener, zipper and trim supplier Talon International says it remains confident in its outlook, despite reporting a 35.5% decline in second-quarter net profit, hurt by lower sales.
Net income amounted to US$814,475 for the three months to 30 June, compared to $1.3m in the same period of the prior year.
Total sales were down 4.1% year-on-year to $16m, with zipper sales declining 9.3% to $8.6m. But trim sales rose 2.7% to $7.3m. Gross margin increased to 33.9% from 33.4% last year.
Sales and marketing expenses increased 11.1% to $1.7m, mainly due to investments in new product development including particular emphasis on growing its TekFit product category.
via Talon confident despite Q2 profit slide.