Superior Group of Companies Reports Fourth Quarter 2024 Results
Superior Group of Companies (SGC) reported its Q4 2024 results with mixed performance. While full-year 2024 saw 4% sales growth and 35% diluted EPS growth, Q4 showed some weakness with net sales declining to $145.4 million from $147.2 million in Q4 2023. Q4 pretax income fell to $2.5 million from $4.2 million, with net income decreasing to $2.1 million ($0.13 per diluted share) from $3.6 million ($0.22 per diluted share).
Looking ahead, SGC provided 2025 guidance projecting net sales of $585-595 million (vs. $565.7M in 2024) and diluted EPS of $0.75-0.82 (vs. $0.73 in 2024). The company announced a new $17.5 million stock repurchase plan, following their previous $10 million plan under which they purchased 523,472 shares for $7.4 million. Additionally, SGC amended its credit agreement, increasing allowed restricted payments to $30 million annually from $20 million, providing greater flexibility for dividends and share repurchases.
Superior Group of Companies (SGC) ha riportato i risultati del Q4 2024 con una performance mista. Sebbene l'anno intero 2024 abbia registrato una crescita delle vendite del 4% e una crescita dell'EPS diluito del 35%, il Q4 ha mostrato alcune debolezze, con le vendite nette che sono diminuite a $145,4 milioni rispetto ai $147,2 milioni del Q4 2023. Il reddito ante imposte del Q4 è sceso a $2,5 milioni rispetto ai $4,2 milioni, con un reddito netto che è diminuito a $2,1 milioni ($0,13 per azione diluita) rispetto ai $3,6 milioni ($0,22 per azione diluita).
Guardando al futuro, SGC ha fornito previsioni per il 2025 prevedendo vendite nette tra $585 e $595 milioni (rispetto ai $565,7 milioni nel 2024) e un EPS diluito tra $0,75 e $0,82 (rispetto a $0,73 nel 2024). L'azienda ha annunciato un nuovo piano di riacquisto di azioni da $17,5 milioni, dopo il precedente piano da $10 milioni, sotto il quale ha acquistato 523.472 azioni per $7,4 milioni. Inoltre, SGC ha modificato il suo accordo di credito, aumentando i pagamenti restrittivi consentiti a $30 milioni all'anno rispetto ai $20 milioni, fornendo maggiore flessibilità per dividendi e riacquisti di azioni.
Superior Group of Companies (SGC) reportó sus resultados del Q4 2024 con un desempeño mixto. Mientras que el año completo 2024 vio un crecimiento del 4% en ventas y un crecimiento del 35% en EPS diluido, el Q4 mostró algunas debilidades con las ventas netas disminuyendo a $145.4 millones desde $147.2 millones en el Q4 2023. El ingreso antes de impuestos del Q4 cayó a $2.5 millones desde $4.2 millones, con un ingreso neto que disminuyó a $2.1 millones ($0.13 por acción diluida) desde $3.6 millones ($0.22 por acción diluida).
Mirando hacia adelante, SGC proporcionó guía para 2025 proyectando ventas netas de $585-595 millones (vs. $565.7M en 2024) y un EPS diluido de $0.75-0.82 (vs. $0.73 en 2024). La compañía anunció un nuevo plan de recompra de acciones de $17.5 millones, tras su anterior plan de $10 millones bajo el cual compraron 523,472 acciones por $7.4 millones. Además, SGC enmendó su acuerdo de crédito, aumentando los pagos restringidos permitidos a $30 millones anuales desde $20 millones, proporcionando mayor flexibilidad para dividendos y recompras de acciones.
Superior Group of Companies (SGC)는 2024년 4분기 실적을 발표했으며, 혼합된 성과를 보였습니다. 2024년 전체적으로 4%의 매출 성장과 35%의 희석 주당 순이익(EPS) 성장을 기록했지만, 4분기에는 약세를 보이며 순매출이 2023년 4분기의 1억 4,720만 달러에서 1억 4,540만 달러로 감소했습니다. 4분기 세전 소득은 420만 달러에서 250만 달러로 감소했으며, 순이익은 360만 달러($0.22 희석 주당)에서 210만 달러($0.13 희석 주당)로 줄었습니다.
앞으로 SGC는 2025년 가이던스를 제공하며 순매출을 5억 8,500만 달러에서 5억 9,500만 달러로 예상하고 있습니다(2024년 5억 6,570만 달러 대비) 그리고 희석 주당 순이익을 $0.75-$0.82로 예상하고 있습니다(2024년 $0.73 대비). 회사는 이전의 1천만 달러 계획에 이어 1천7백5십만 달러 규모의 새로운 자사주 매입 계획을 발표했으며, 이 계획에 따라 523,472주를 740만 달러에 매입했습니다. 또한 SGC는 신용 계약을 수정하여 허용된 제한 지급을 연간 2천만 달러에서 3천만 달러로 증가시켜 배당금 및 자사주 매입에 대한 유연성을 높였습니다.
Superior Group of Companies (SGC) a rapporté ses résultats du Q4 2024 avec des performances mitigées. Bien que l'année complète 2024 ait connu une croissance des ventes de 4 % et une croissance de 35 % de l'EPS dilué, le Q4 a montré certaines faiblesses avec des ventes nettes en baisse à 145,4 millions de dollars contre 147,2 millions de dollars au Q4 2023. Le revenu avant impôts du Q4 est tombé à 2,5 millions de dollars contre 4,2 millions de dollars, avec un revenu net diminuant à 2,1 millions de dollars (0,13 $ par action diluée) contre 3,6 millions de dollars (0,22 $ par action diluée).
En regardant vers l'avenir, SGC a fourni une prévision pour 2025 projetant des ventes nettes de 585 à 595 millions de dollars (contre 565,7 millions de dollars en 2024) et un EPS dilué de 0,75 à 0,82 (contre 0,73 en 2024). L'entreprise a annoncé un nouveau plan de rachat d'actions de 17,5 millions de dollars, suite à son précédent plan de 10 millions de dollars, selon lequel elle a acheté 523 472 actions pour 7,4 millions de dollars. De plus, SGC a modifié son accord de crédit, augmentant les paiements restreints autorisés à 30 millions de dollars par an contre 20 millions de dollars, offrant une plus grande flexibilité pour les dividendes et les rachats d'actions.
Superior Group of Companies (SGC) berichtete über seine Ergebnisse für das 4. Quartal 2024 mit gemischter Leistung. Während das gesamte Jahr 2024 ein Umsatzwachstum von 4% und ein Wachstum des verwässerten EPS von 35% verzeichnete, zeigte das 4. Quartal einige Schwächen, da der Nettoumsatz auf 145,4 Millionen Dollar von 147,2 Millionen Dollar im 4. Quartal 2023 zurückging. Das Vorsteuerergebnis fiel auf 2,5 Millionen Dollar von 4,2 Millionen Dollar, während der Nettogewinn auf 2,1 Millionen Dollar (0,13 Dollar pro verwässerter Aktie) von 3,6 Millionen Dollar (0,22 Dollar pro verwässerter Aktie) sank.
Für die Zukunft gab SGC eine Prognose für 2025 ab, die einen Nettoumsatz von 585-595 Millionen Dollar (im Vergleich zu 565,7 Millionen Dollar im Jahr 2024) und ein verwässertes EPS von 0,75-0,82 (im Vergleich zu 0,73 Dollar im Jahr 2024) prognostiziert. Das Unternehmen kündigte einen neuen Aktienrückkaufplan über 17,5 Millionen Dollar an, nach dem vorherigen Plan über 10 Millionen Dollar, im Rahmen dessen 523.472 Aktien für 7,4 Millionen Dollar zurückgekauft wurden. Darüber hinaus änderte SGC seine Kreditvereinbarung und erhöhte die zulässigen eingeschränkten Zahlungen auf jährlich 30 Millionen Dollar von 20 Millionen Dollar, was eine größere Flexibilität für Dividenden und Aktienrückkäufe bietet.
- Full-year 2024 sales grew 4% with 35% increase in diluted EPS
- Projected revenue growth for 2025 ($585-595M vs $565.7M in 2024)
- Expected EPS growth for 2025 ($0.75-0.82 vs $0.73)
- New $17.5M share repurchase authorization
- Increased restricted payment capacity to $30M annually for dividends and buybacks
- Q4 2024 revenue declined 1.2% to $145.4M
- Q4 2024 pretax income fell 40.5% to $2.5M
- Q4 2024 EPS decreased 41% to $0.13
- Market conditions showing customer uncertainty
Insights
Superior Group of Companies reported mixed Q4 2024 results with declining quarterly performance but solid full-year growth. Q4 saw net sales dip to
Despite the soft quarter, full-year 2024 performance was positive with
Two shareholder-friendly actions stand out: 1) The board approved a new
The company acknowledges ongoing "customer uncertainty" in market conditions but emphasizes its focus on controllable factors like cost management, operational efficiencies, and innovation. This pragmatic approach balances near-term challenges against opportunities for growth and market share gains when conditions improve.
| – Total net sales of |
| – Net income of |
| – EBITDA of |
| – Board of Directors approves additional stock repurchase plan – |
| – Provides full-year outlook – |
ST. PETERSBURG, Fla., March 11, 2025 (GLOBE NEWSWIRE) -- Superior Group of Companies, Inc. (NASDAQ: SGC) (the “Company”), today announced its fourth quarter 2024 results.
“For 2024, we grew sales and diluted EPS
Fourth Quarter Results
For the fourth quarter ended December 31, 2024, net sales declined to
2025 Full-Year Outlook
The Company forecasts full-year 2025 net sales in the range of
Stock Repurchase Plan
The Board of Directors approved a new stock repurchase plan which authorizes the Company to repurchase up to an additional
The new stock repurchase plan, which has no expiration date, allows the Company to purchase common stock from time to time through, among other ways, open market purchases, privately negotiated transactions, block purchases, and/or pursuant to Rule 10b5-1 trading plans, subject to certain requirements and factors. The number of shares purchased and the timing of any purchases will depend upon a number of factors, including the price and availability of the Company’s stock and general market conditions. Shares repurchased may be reissued later in connection with employee benefit plans and other general corporate purposes.
Second Amendment to Credit Agreement
On March 7, 2025, the Company, entered into a Second Amendment to the Credit Agreement among the Company, the domestic subsidiaries of the Company, as guarantors, the lenders party thereto (the “Lenders”), and PNC Bank, National Association, as administrative agent for the Lenders, pursuant to which the Company is now allowed to make restricted payments in an amount not to exceed
Webcast and Conference Call
The Company will host a webcast and conference call at 5:00 pm Eastern Time today. The live webcast and archived replay can be accessed in the investor relations section of the Company's website at https://ir.superiorgroupofcompanies.com/Presentations. Interested individuals may also join the teleconference by dialing 1-844-861-5505 for U.S. dialers and 1-412-317-6586 for International dialers. The Canadian Toll-Free number is 1-866-605-3852. Please ask to be joined to the Superior Group of Companies call. A telephone replay of the teleconference will be available through March 18, 2025. To access the replay, dial 1-877-344-7529 in the United States or 1-412-317-0088 from international locations. Canadian dialers can access the replay at 855-669-9658. Please reference conference number 8841600 for replay access.
Disclosure Regarding Forward Looking Statements
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “potential,” or “plan” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements in this press release may include, without limitation: (1) projections of revenue, income, and other items relating to our financial position and results of operations, including short-term and long-term plans for cash (2) statements of our plans, objectives, strategies, goals and intentions, (3) statements regarding the capabilities, capacities, market position and expected development of our business operations and (4) statements of expected industry and general economic trends.
Such forward-looking statements are subject to certain risks and uncertainties that may materially adversely affect the anticipated results. Such risks and uncertainties include, but are not limited to, the following: the impact of competition; uncertainties related to a potential trade war, supply disruptions, inflationary environments (including with respect to shipping costs and the cost of finished goods and raw materials and shipping costs), employment levels (including labor shortages), and general economic and political conditions in the areas of the world in which the Company operates or from which it sources its supplies or the areas of the United States of America (“U.S.” or “United States”) in which the Company’s customers are located; changes in the healthcare, retail chain, food service, transportation and other industries where uniforms and service apparel are worn; our ability to identify suitable acquisition targets, discover liabilities associated with such businesses during the diligence process, successfully integrate any acquired businesses, or successfully manage our expanding operations; the price and availability of raw materials; attracting and retaining senior management and key personnel; the effect of the Company’s previously disclosed material weakness in internal control over financial reporting; the Company’s ability to successfully remediate its material weakness in internal control over financial reporting and to maintain effective internal control over financial reporting; and other factors described in the Company’s filings with the Securities and Exchange Commission, including those described in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements made herein and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and we disclaim any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances, except as may be required by law.
About Superior Group of Companies, Inc. (SGC):
Established in 1920, Superior Group of Companies is comprised of three attractive business segments each serving large, fragmented and growing addressable markets. Across Healthcare Apparel, Branded Products and Contact Centers, each segment enables businesses to create extraordinary brand engagement experiences for their customers and employees. SGC’s commitment to service, quality, advanced technology, and omnichannel commerce provides unparalleled competitive advantages. We are committed to enhancing shareholder value by continuing to pursue a combination of organic growth and strategic acquisitions. For more information, visit www.superiorgroupofcompanies.com.
Investor Relations Contact:
Investors@Superiorgroupofcompanies.com
Comparative figures are as follows:
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except shares and per share data) | ||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net sales | $ | 145,408 | $ | 147,241 | $ | 565,676 | $ | 543,302 | ||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of goods sold | 91,448 | 91,809 | 345,098 | 339,755 | ||||||||||||
| Selling and administrative expenses | 50,020 | 49,198 | 199,926 | 184,060 | ||||||||||||
| Interest expense | 1,461 | 2,060 | 6,358 | 9,718 | ||||||||||||
| 142,929 | 143,067 | 551,382 | 533,533 | |||||||||||||
| Income before income tax expense | 2,479 | 4,174 | 14,294 | 9,769 | ||||||||||||
| Income tax expense | 390 | 617 | 2,290 | 997 | ||||||||||||
| Net income | $ | 2,089 | $ | 3,557 | $ | 12,004 | $ | 8,772 | ||||||||
| Net income per share: | ||||||||||||||||
| Basic | $ | 0.13 | $ | 0.22 | $ | 0.75 | $ | 0.55 | ||||||||
| Diluted | $ | 0.13 | $ | 0.22 | $ | 0.73 | $ | 0.54 | ||||||||
| Weighted average shares outstanding during the period: | ||||||||||||||||
| Basic | 15,675,402 | 16,010,006 | 16,008,015 | 15,968,199 | ||||||||||||
| Diluted | 16,250,792 | 16,238,736 | 16,504,384 | 16,159,308 | ||||||||||||
| Cash dividends per common share | $ | 0.14 | $ | 0.14 | $ | 0.56 | $ | 0.56 | ||||||||
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share and par value data) | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 18,766 | $ | 19,896 | ||||
| Accounts receivable | 95,092 | 103,494 | ||||||
| Inventories | 96,675 | 98,067 | ||||||
| Contract assets | 51,688 | 48,715 | ||||||
| Prepaid expenses and other current assets | 10,831 | 9,188 | ||||||
| Total current assets | 273,052 | 279,360 | ||||||
| Property, plant and equipment, net | 41,879 | 46,890 | ||||||
| Operating lease right-of-use assets | 15,567 | 17,909 | ||||||
| Deferred tax asset | 13,835 | 12,356 | ||||||
| Intangible assets, net | 51,137 | 51,160 | ||||||
| Goodwill | 2,304 | - | ||||||
| Other assets | 17,360 | 14,775 | ||||||
| Total assets | $ | 415,134 | $ | 422,450 | ||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 50,942 | $ | 50,520 | ||||
| Other current liabilities | 44,367 | 43,978 | ||||||
| Current portion of long-term debt | 5,625 | 4,688 | ||||||
| Current portion of acquisition-related contingent liabilities | 814 | 1,403 | ||||||
| Total current liabilities | 101,748 | 100,589 | ||||||
| Long-term debt | 80,410 | 88,789 | ||||||
| Long-term pension liability | 13,315 | 13,284 | ||||||
| Long-term acquisition-related contingent liabilities | 935 | 557 | ||||||
| Long-term operating lease liabilities | 10,486 | 12,809 | ||||||
| Other long-term liabilities | 9,384 | 8,784 | ||||||
| Total liabilities | 216,278 | 224,812 | ||||||
| Commitments and contingencies | ||||||||
| Shareholders’ equity: | ||||||||
| Preferred stock, $.001 par value - authorized 300,000 shares (none issued) | - | - | ||||||
| Common stock, $.001 par value - authorized 50,000,000 shares, issued and outstanding - 16,484,921 and 16,564,712 shares, respectively | 16 | 16 | ||||||
| Additional paid-in capital | 84,060 | 77,443 | ||||||
| Retained earnings | 120,139 | 122,464 | ||||||
| Accumulated other comprehensive loss, net of tax | (5,359 | ) | (2,285 | ) | ||||
| Total shareholders’ equity | 198,856 | 197,638 | ||||||
| Total liabilities and shareholders’ equity | $ | 415,134 | $ | 422,450 | ||||
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands) | ||||||||
| Years Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||
| Net income | $ | 12,004 | $ | 8,772 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 13,185 | 13,995 | ||||||
| Inventory write-downs | 2,423 | 2,346 | ||||||
| Share-based compensation expense | 4,270 | 3,787 | ||||||
| Deferred income tax benefit | (1,581 | ) | (1,635 | ) | ||||
| Change in fair value of acquisition-related contingent liabilities | 437 | (189 | ) | |||||
| Change in fair value of written put options | 653 | 489 | ||||||
| Other, net | 739 | 749 | ||||||
| Changes in assets and liabilities, net of acquisition of businesses: | ||||||||
| Accounts receivable | 7,977 | 1,051 | ||||||
| Contract assets | (3,434 | ) | 4,310 | |||||
| Inventories | (1,031 | ) | 24,672 | |||||
| Prepaid expenses and other current assets | (2,375 | ) | 8,515 | |||||
| Other assets | (2,953 | ) | (2,222 | ) | ||||
| Accounts payable and other current liabilities | 1,934 | 13,310 | ||||||
| Payment of acquisition-related contingent liabilities | (686 | ) | (279 | ) | ||||
| Long-term pension liability | 433 | 407 | ||||||
| Other long-term liabilities | 1,433 | 851 | ||||||
| Net cash provided by operating activities | 33,428 | 78,929 | ||||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
| Additions to property, plant and equipment | (4,435 | ) | (4,963 | ) | ||||
| Acquisition of businesses | (4,000 | ) | - | |||||
| Other investments | - | (545 | ) | |||||
| Net cash used in investing activities | (8,435 | ) | (5,508 | ) | ||||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
| Borrowings under revolving lines of credit | 47,000 | 6,000 | ||||||
| Payments under revolving lines of credit | (50,000 | ) | (64,000 | ) | ||||
| Payment of term loan | (4,687 | ) | (3,750 | ) | ||||
| Debt issuance costs | - | (300 | ) | |||||
| Payment of cash dividends | (9,284 | ) | (9,188 | ) | ||||
| Payment of acquisition-related contingent liabilities | (897 | ) | (553 | ) | ||||
| Proceeds received on exercise of stock options | 1,128 | 175 | ||||||
| Shares withheld for taxes | (317 | ) | - | |||||
| Common stock reacquired and retired | (7,417 | ) | - | |||||
| Net cash used in financing activities | (24,474 | ) | (71,616 | ) | ||||
| Effect of currency exchange rates on cash | (1,649 | ) | 369 | |||||
| Net (decrease) increase in cash and cash equivalents | (1,130 | ) | 2,174 | |||||
| Cash and cash equivalents balance, beginning of year | 19,896 | 17,722 | ||||||
| Cash and cash equivalents balance, end of year | $ | 18,766 | $ | 19,896 | ||||
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES NON-GAAP FINANCIAL MEASURES (Unaudited) (In thousands, except shares and per share data) | ||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net income | $ | 2,089 | $ | 3,557 | $ | 12,004 | $ | 8,772 | ||||||||
| Interest expense | 1,461 | 2,060 | 6,358 | 9,718 | ||||||||||||
| Income tax expense | 390 | 617 | 2,290 | 997 | ||||||||||||
| Depreciation and amortization | 3,313 | 3,664 | 13,185 | 13,995 | ||||||||||||
| Intangible assets impairment charge | - | - | 260 | - | ||||||||||||
| EBITDA(1) | $ | 7,253 | $ | 9,898 | $ | 34,097 | $ | 33,482 | ||||||||
| EBITDA margin(1) | 5.0 | % | 6.7 | % | 6.0 | % | 6.2 | % | ||||||||
(1) EBITDA, which is a non-GAAP financial measure, is defined as net income excluding interest expense, income tax expense, depreciation and amortization expense and impairment charges. EBITDA margin is defined as EBITDA divided by net sales. The Company believes EBITDA is an important measure of operating performance because it allows management, investors and others to evaluate and compare the Company’s core operating results from period to period by removing (i) the impact of the Company’s capital structure (interest expense from outstanding debt), (ii) tax consequences and (iii) asset base (depreciation and amortization and impairment charges). The Company uses EBITDA internally to monitor operating results and to evaluate the performance of its business. In addition, the compensation committee has used EBITDA in evaluating certain components of executive compensation, including performance-based annual incentive programs. EBITDA is not a measure of financial performance under GAAP. EBITDA should not be considered in isolation or as an alternative to net income, cash flows from operating activities or any other measure determined in accordance with GAAP. The items excluded to calculate EBITDA are significant components in understanding and assessing the Company’s results of operations. The presentation of the Company’s EBITDA may change from time to time, including as a result of changed business conditions, new accounting pronouncements or otherwise. If the presentation changes, the Company undertakes to disclose any change between periods and the reasons underlying that change. The Company’s EBITDA may not be comparable to a similarly titled measure of another company because other entities may not calculate EBITDA in the same manner.
| SUPERIOR GROUP OF COMPANIES, INC. AND SUBSIDIARIES SUPPLEMENTAL INFORMATION - REPORTABLE SEGMENTS (Unaudited) (In thousands) | ||||||||||||||||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Year Ended December 31, 2024: | ||||||||||||||||||||||||
| Net sales | $ | 353,314 | $ | 119,191 | $ | 96,949 | $ | (3,778 | ) | $ | - | $ | 565,676 | |||||||||||
| Cost of goods sold | 228,591 | 73,445 | 44,742 | (1,680 | ) | - | 345,098 | |||||||||||||||||
| Gross margin | 124,723 | 45,746 | 52,207 | (2,098 | ) | - | 220,578 | |||||||||||||||||
| Selling and administrative expenses | 94,384 | 41,149 | 42,999 | (2,098 | ) | 23,492 | 199,926 | |||||||||||||||||
| Add: Depreciation and amortization | 5,948 | 3,892 | 2,968 | - | 377 | 13,185 | ||||||||||||||||||
| Intangible assets impairment charge | - | 260 | - | - | - | 260 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 36,287 | $ | 8,749 | $ | 12,176 | $ | - | $ | (23,115 | ) | $ | 34,097 | |||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Year Ended December 31, 2023: | ||||||||||||||||||||||||
| Net sales | $ | 342,680 | $ | 113,878 | $ | 91,500 | $ | (4,756 | ) | $ | - | $ | 543,302 | |||||||||||
| Cost of goods sold | 228,053 | 71,597 | 42,352 | (2,247 | ) | - | 339,755 | |||||||||||||||||
| Gross margin | 114,627 | 42,281 | 49,148 | (2,509 | ) | - | 203,547 | |||||||||||||||||
| Selling and administrative expenses | 88,225 | 38,209 | 39,682 | (2,509 | ) | 20,453 | 184,060 | |||||||||||||||||
| Add: Depreciation and amortization | 6,744 | 3,925 | 2,942 | - | 384 | 13,995 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 33,146 | $ | 7,997 | $ | 12,408 | $ | - | $ | (20,069 | ) | $ | 33,482 | |||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Three Months Ended December 31, 2024: | ||||||||||||||||||||||||
| Net sales | $ | 92,403 | $ | 30,337 | $ | 23,527 | $ | (859 | ) | $ | - | $ | 145,408 | |||||||||||
| Cost of goods sold | 61,057 | 20,110 | 10,667 | (386 | ) | - | 91,448 | |||||||||||||||||
| Gross margin | 31,346 | 10,227 | 12,860 | (473 | ) | - | 53,960 | |||||||||||||||||
| Selling and administrative expenses | 23,898 | 10,218 | 10,563 | (473 | ) | 5,814 | 50,020 | |||||||||||||||||
| Add: Depreciation and amortization | 1,435 | 1,055 | 722 | - | 101 | 3,313 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 8,883 | $ | 1,064 | $ | 3,019 | $ | - | $ | (5,713 | ) | $ | 7,253 | |||||||||||
| Branded Products | Healthcare Apparel | Contact Centers | Intersegment Eliminations | Other | Total | |||||||||||||||||||
| For the Three Months Ended December 31, 2023: | ||||||||||||||||||||||||
| Net sales | $ | 97,725 | $ | 28,003 | $ | 22,565 | $ | (1,052 | ) | $ | - | $ | 147,241 | |||||||||||
| Cost of goods sold | 63,561 | 17,725 | 10,807 | (497 | ) | - | 91,596 | |||||||||||||||||
| Gross margin | 34,164 | 10,278 | 11,758 | (555 | ) | - | 55,645 | |||||||||||||||||
| Selling and administrative expenses | 24,392 | 9,748 | 10,180 | (555 | ) | 5,646 | 49,411 | |||||||||||||||||
| Add: Depreciation and amortization | 1,918 | 911 | 732 | - | 103 | 3,664 | ||||||||||||||||||
| Segment EBITDA(1) | $ | 11,690 | $ | 1,441 | $ | 2,310 | $ | - | $ | (5,543 | ) | $ | 9,898 | |||||||||||
(1) Segment EBITDA is our primary measure of segment profitability under U.S. GAAP ASC 280 “Segment Reporting”. Amounts included in income before income tax expense and excluded from Segment Adjusted EBITDA include: interest expense, depreciation and amortization expense, impairment charges and any other items not tied to the operational performance of the segment. Total Segment EBITDA is a non-GAAP financial measure. Please see reconciliation of Adjusted EBITDA included in the Non-GAAP Financial Measures table above.
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