Talon International Inc., a leading global supplier of zippers, apparel fasteners, trim and stretch technology products, has reported its financial results for the third quarter ended September 30, 2016. Company’s sales noted a surge of 8.6 per cent to US $ 10.9 million, driven by an increase of US $ 1.3 million in Talon Trim products, consisting of sales to specialty retail branded customers and further penetration of the Tekfit business into new and existing customers.
In the period under review, company’s gross profit totalled US $ 3.8 million compared to US $ 3.4 million during the same period last year, attributed to higher sales volumes and margins for Talon Trim products and a greater mix of higher-margin products in Talon Zippers, offset by higher freight, duty and manufacturing support costs. Net income for the quarter amounted to US $ 21,000 as against the net loss of US $ 90,000 for the comparable period last year.
Larry Dyne, Talon’s Chief Executive Officer, Talon commented, “Talon continued to produce higher margins, due to a more favourable product mix and operational cost containments. As our sales focus has become more geared to specialty retail branded customers, we’re able to offer customers wider product selections with increased margins. We continue to focus on product innovation, in both the Zipper and Trim segments, and plan to introduce new Fit for Purpose products for specific market segments over the next few quarters.”
The company also posted its sales for the nine months ended September 30, 2016 worth US $ 36.6 million. Company’s gross profit totalled US $ 13.4 million in the above-mentioned period. Net income generated by Talon was US $ 1.0 million.
Talon develops, manufactures and distributes custom zippers exclusively under its Talon® brand. The company also designs, develops, manufactures, and distributes complete apparel trim solutions and products including stretch technology products for specialty waistbands, shirt collars, and other items all under its trademark and world renowned brands, Talon® and Tekfit® to major apparel brands and retailers.