Talon International, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014
March 16, 2015 at 04:01 pm EDT
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Talon International, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales were $10,270,427 compared to $11,938,636 for the same period last year. Loss from operations was $199,176 compared to income from operations of $20,723 for the same period last year. Loss before provision for income taxes was $292,690 compared to income before provision for income taxes of $6,162 for the same period last year. Net loss was $316,757 compared to net income of $7,487,963 for the same period last year. Net loss applicable to Common Stockholders was $316,757 or $0.00 per diluted share compared to net income applicable to Common Stockholders of $7,487,963 or $0.08 per diluted share for the same period last year.
For the year, the company reported net sales were $49,322,684 compared to $52,447,387 for the same period last year. Income from operations was $1,739,705 compared to $2,757,224 for the same period last year. Income before provision for income taxes was $1,328,435 compared to income before provision for income taxes of $2,731,447 for the same period last year. Net income was $572,069 compared to $9,731,087 for the same period last year. Net income applicable to Common Stockholders was $572,069 or $0.01 per diluted share compared to net income applicable to Common Stockholders of $14,755,874 or $0.24 per diluted share for the same period last year. Total sales decrease compared to 2013, principally the result of a decline in Talon Zipper sales.
Talon International, Inc. is an apparel company, which specializes in the distribution of trim items to manufacturers of fashion apparel, specialty retailers and mass merchandisers. The Company acts as a full-service outsourced trim management department for manufacturers, a specified supplier of trim items to owners of specific brands, brand licensees and retailers, a manufacturer and distributor of zippers under the Talon brand name and a distributor of stretch waistbands that utilize licensed patented technology under the Tekfit/Adjustec brand name. Its products include Zippers, Trim, Packaging, Adjustec and Bonding. The Zippers products include metal, coil, vintage, plastic, KidZip, and others. The Trim products include paper trims, labels, hardware, heat transfer and others. Its Adjustec products provide shirts, pockets, pants and proprietary. Its Packaging product provides boxes, bags and specialties. The Bonding products include seam sealing tape, overlay, adhesives and flex-it.