Superior Uniform Group (SGC) Tops Q4 EPS by 4c

Superior Uniform Group (NASDAQ: SGC) reported Q4 EPS of $0.30, $0.04 better than the analyst estimate of $0.26. Revenue for the quarter came in at $64.7 million versus the consensus estimate of $64.65 million.

Michael Benstock, chief executive officer, commented, “We are pleased to report solid gains for both top and bottom line performance for fiscal 2016. Net income increased 12.0 percent on a net sales gain of 20.1 percent. Results like these are only possible through the hard work and disciplined focus of our teams. We also laid the groundwork for long-term future success by strengthening our competitive position and broadening our growth prospects. During 2016, we completed the acquisition of BAMKO to give us a strong foothold in the promotional products and branded merchandise market. We opened a new factory in Haiti to improve our competitive position, and we completed our new call center facility in El Salvador that essentially triples our capacity there.

“Our updated guidance relative to net sales is as follows: Over the next three to five years on average, we expect organic growth in our uniform segment will exceed 6 percent, our promotional products segment will exceed 15 percent organic growth and our remote staffing solutions segment will generate growth of $3.0 million to $3.5 million per year. Overall, we expect average organic growth in excess of 8 percent. We intend to supplement our organic growth with acquisitions in the promotional products segment each year while continuing to pursue acquisitions in the uniform segment as they become available."

For earnings history and earnings-related data on Superior Uniform Group (SGC) click here.

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