Superior Uniform Group (SGC) Tops Q4 EPS by 5c, Revenues Beat

Superior Uniform Group (NASDAQ: SGC) reported Q4 EPS of $0.20, $0.05 better than the analyst estimate of $0.15. Revenue for the quarter came in at $108.4 million versus the consensus estimate of $89.79 million.

• Net sales for the fourth quarter ended December 31, 2019 were $108.4 million, an increase of 14.1% compared to the 2018 fourth quarter of $95.0 million. Pre-tax income was $4.0 million compared to $5.7 million in the 2018 fourth quarter.
• Net income for the fourth quarter ended December 31, 2019 was $3.0 million, or $0.20 per diluted share, compared to $4.6 million, or $0.30 per diluted share, reported for the fourth quarter 2018.

Michael Benstock, Chief Executive Officer, commented, “We were pleased with our overall performance in the fourth quarter and 2019 as a whole. Sales at BAMKO, which comprises our Promotional Products Segment, grew 54% for the quarter and 33% for the year, eclipsing $107 million. Sales at The Office Gurus, our Remote Staffing Segment, grew nicely at 17% and 16% for the quarter and year, respectively. In our Uniform Segment we made significant progress to position ourselves for growth through the appointment of new leadership and re-organizations within our Healthcare and Employee ID businesses; the integration of our ERP system across the segment; expansion of our manufacturing capabilities in Haiti; and initiating the expansion and modernization of our largest automated warehouse facility in Arkansas. We are better positioned than ever with our leadership, teams, systems, infrastructure, expanded product assortment and service lines to meet and exceed our existing customers’ expectations and gain market share. I’m quite satisfied with our progress in these areas during 2019 and am confident in the overall trajectory of our businesses as we enter 2020.”

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

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