Click here to close now.



Welcome!

Microsoft Cloud Authors: David Bermingham, Dana Gardner, Jayaram Krishnaswamy, Pat Romanski, Adine Deford

News Feed Item

Talon International, Inc. Reports Third Quarter and Nine Months Financial Results for 2012

LOS ANGELES, CA -- (Marketwire) -- 11/14/12 -- Talon International, Inc. (OTCQB: TALN), a leading global supplier of zippers, apparel fasteners, trim and interlining products, reported financial results for the quarter and nine months ended September 30, 2012.

Highlights

  • Third Quarter 2012 sales increase 20% over same period in 2011.
  • Gross profit margin for the Third Quarter 2012 up 2.2 percentage points from 2011.

Financial Results

Total sales for the third quarter ended September 30, 2012 were $11.3 million; rising 20% or $1.9 million more than the same period in 2011. Zipper product sales for the quarter ended September 30, 2012 were $5.7 million as compared to $5.0 million for the same quarter in 2011, and Trim product sales for the quarter ended September 30, 2012 were $5.5 million as compared to $4.4 million for the same quarter in 2011. Total sales for the nine months ended September 30, 2012 were $33.2 million; an increase of $1.8 million or 5.8% compared to the same period in 2011. Zipper product sales for the nine months ended September 30, 2012 were $17.1 million as compared to $17.8 million for the same period in 2011, and Trim product sales for the nine months ended September 30, 2012 were $16.1 million as compared to $13.6 million for the same period in 2011. "We are very pleased with the sales gains achieved this quarter and year to date," noted Lonnie Schnell, Talon's CEO. "The sales gains evidence the important strategic wins we continue to achieve as we target bringing new nominations of image-driven and performance active specialty brands to our roster of marquee customers, and as we further our expansion within the European marketplace," Lonnie Schnell continued.

Gross profit for the quarter ended September 30, 2012 was $3.7 million or 32.3% of sales as compared to $2.8 million, or 30.1% of sales for the same quarter in 2011, an increase of $0.8 million and 2.2 percentage points. Gross profit for the nine months ended September 30, 2012 was $10.8 million, or 32.5% of sales, as compared to $9.8 million, or 31.2% of sales for the same period in 2011, an increase of $1.0 million or 1.3 percentage points. The gross profit increases for the quarter and nine months ended September 30, 2012 as compared to the same period in 2011 were principally attributable to increased sales, an improved mix of higher-margin trim product sales, and a greater mix of sales to specialty retailers as opposed to mass merchandisers.

Operating expenses for the third quarter of 2012 and 2011 were $3.3 million and $3.0 million, respectively. Operating expenses for the first nine months of 2012 and 2011 were $9.9 million and $9.2 million, respectively. The increases in operating spending were associated with additions to our internal sales force and expanding our sales presense in Europe; non-operational professional and advisory fees; and higher legal costs associated with our efforts to secure patent and trademark rights worldwide. These spending increases were partially offset by lower overall net compensation costs. Sales and marketing expenses for the quarter ended September 30, 2012 were $1.2 million as compared to $1.1 million for the same quarter in 2011. Sales and marketing expenses for the first nine months of 2012 were $3.5 million; an increase of $0.4 million over for the same period in 2011. General and administrative expenses for the quarter ended September 30, 2012 totaled $2.1 million compared to $1.8 million for the same period in 2011. General and administrative expenses for the nine months ended September 30, 2012 totaled $6.4 million, reflecting an increase of $0.3 million over the same period in 2011.

Provision for income taxes, net for the three months ended September 30, 2012 was $182,000, as compared to benefit from income taxes, net of $57,000 for the same period in 2011. For the nine months ended September 30, 2012 provision for income taxes was $176,000 as compared to $357,000 for the same period in 2011. The provision for income taxes, net for the nine months ended September 30, 2012 included the reversal of a potential tax liability of $196,000 established in 2007 for foreign tax positions that might have been subject to reversal upon a regulatory review. During the first quarter of 2012, the time limit for assessment of the tax liability expired and the liability was removed.

The net income for the quarter ended September 30, 2012 was $187,000 as compared to a net loss of $126,000 for the same quarter in 2011. The net income for the nine months ended September 30, 2012 was $652,000 as compared to a net income of $129,000 for the same period in 2011.

Conference Call

Talon International will hold a conference call on Wednesday, November 14, 2012, to discuss its third quarter financial results for 2012. Talon's CEO Lonnie D. Schnell will host the call starting at 4:30 P.M. Eastern Time. A question and answer session will follow the presentation.

To participate, dial the appropriate number 5-10 minutes prior to the start time, request the Talon International conference call and provide the conference ID.

Date: Wednesday, November 14, 2012
Time: 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time)
Domestic callers: 1-877-317-6789
International callers: 1-412-317-6789
Conference ID#: TALON

A replay of the call will be available after 7:30 p.m. Eastern Time on the same day and until December 14, 2012. The toll-free replay call-in number is 1-877-870-5176 for domestic callers and 1-858-384-5517 for international. Pin number 10021202.

About Talon International, Inc.

Talon International, Inc. is a global supplier of apparel fasteners, trim and interlining products to manufacturers of fashion apparel, specialty retailers, mass merchandisers, brand licensees and major retailers. Talon manufactures and distributes zippers and other fasteners under its Talon® brand, known as the original zipper invented in 1893. Talon also designs, manufactures, engineers, and distributes apparel trim products and specialty waistbands under its trademark names, Talon®, TekFit® and Tag-It to major apparel brands and retailers including Abercrombie and Fitch, Polo Ralph Lauren, Kohl's, J.C. Penney, Fat Face, Victoria's Secret, Wal-Mart, Tom Tailor, Phillips-Van Heusen, and Juicy Couture. The company has offices and facilities in the United States, United Kingdom, Hong Kong, China, Taiwan, India and Bangladesh.



                         TALON INTERNATIONAL, INC.
   CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
                                (Unaudited)

                            Three Months Ended         Nine Months Ended
                               September 30,             September 30,
                         ------------------------  ------------------------
                             2012         2011         2012         2011
                         -----------  -----------  -----------  -----------
Net sales                $11,288,717  $ 9,404,648  $33,214,516  $31,385,122
Cost of goods sold         7,637,845    6,576,861   22,434,159   21,603,444
                         -----------  -----------  -----------  -----------
  Gross profit             3,650,872    2,827,787   10,780,357    9,781,678

Sales and marketing
 expenses                  1,205,552    1,137,597    3,469,024    3,101,644
General and
 administrative expenses   2,070,088    1,847,645    6,435,569    6,126,856
                         -----------  -----------  -----------  -----------
  Total operating
   expenses                3,275,640    2,985,242    9,904,593    9,228,500
                         -----------  -----------  -----------  -----------

Income (loss) from
 operations                  375,232     (157,455)     875,764      553,178

Interest expense, net          5,950       25,484       47,710       67,117
                         -----------  -----------  -----------  -----------
Income (loss) before
 provision for income
 taxes                       369,282     (182,939)     828,054      486,061
Provision for (benefit
 from) income taxes, net     182,417      (56,919)     175,685      356,684
                         -----------  -----------  -----------  -----------

Net income (loss)        $   186,865  $  (126,020) $   652,369  $   129,377

Series B Preferred Stock
 Liquidation Preference
 Increase                   (857,877)    (739,549)  (2,408,257)  (2,076,084)
                         -----------  -----------  -----------  -----------
Loss applicable to
 Common Shareholders     $  (671,012) $  (865,569) $(1,755,888) $(1,946,707)
                         ===========  ===========  ===========  ===========

Per share amounts:
Net income (loss) per
 share                   $      0.01  $     (0.01) $      0.03  $      0.01
Available to Preferred
 Shareholders                  (0.04)       (0.03)       (0.11)       (0.11)
                         -----------  -----------  -----------  -----------
Basic and diluted net
 loss per share
 applicable to Common
 Shareholders            $     (0.03) $     (0.04) $     (0.08) $     (0.10)
                         ===========  ===========  ===========  ===========

Weighted average number
 of common shares
 outstanding - Basic and
 diluted                  22,911,678   20,602,982   22,141,684   20,421,664
                         ===========  ===========  ===========  ===========

Net income (loss)        $   186,865  $  (126,020) $   652,369  $   129,377
Other comprehensive
 income (loss) -
  Foreign currency
   translation               (24,414)      19,340      (10,728)      (2,319)
                         -----------  -----------  -----------  -----------
Total comprehensive
 income (loss)           $   162,451  $  (106,680) $   641,641  $   127,058
                         ===========  ===========  ===========  ===========




                         TALON INTERNATIONAL, INC.
                        CONSOLIDATED BALANCE SHEETS

                                               September 30,   December 31,
                                                    2012           2011
                                               -------------  -------------
                                                (Unaudited)
Assets
Current assets:
  Cash and cash equivalents                    $   6,825,046  $   5,749,341
  Accounts receivable, net                         4,447,029      3,777,771
  Inventories, net                                   674,413      1,076,522
  Prepaid expenses and other current assets          562,067        314,761
                                               -------------  -------------
Total current assets                              12,508,555     10,918,395

Property and equipment, net                          861,805      1,092,609
Intangible assets, net                             4,279,146      4,110,751
Other assets                                         193,267        236,411
                                               -------------  -------------
Total assets                                   $  17,842,773  $  16,358,166
                                               =============  =============

Liabilities, Preferred Stock and Stockholders'
 Equity (Deficit)
Current liabilities:
  Accounts payable                             $   7,233,136  $   6,607,041
  Accrued expenses                                 1,693,906      1,543,465
  Notes payable to related parties                         -        239,942
  Other notes and current portion of capital
   lease obligations                                   3,333         73,148
                                               -------------  -------------
Total current liabilities                          8,930,375      8,463,596

Capital lease obligations, net of current
 portion                                                 657         10,461
Deferred income taxes                                950,224        751,148
Other liabilities                                    178,745        379,803
                                               -------------  -------------
Total liabilities                                 10,060,001      9,605,008
                                               -------------  -------------

Series B Convertible Preferred Stock, $0.001
 par value; 407,160 shares authorized, issued
 and outstanding                                  23,079,995     20,671,738
Stockholders' Equity (Deficit):
Series A Preferred Stock, $0.001 par value;
 250,000 shares authorized; no shares issued
 or outstanding                                            -              -
Common Stock, $0.01 par value, 100,000,000
 shares authorized; 23,400,808 and 21,000,808
 shares issued and outstanding at September
 30, 2012 and December 31, 2011, respectively         23,401         21,001
Additional paid-in capital                        58,333,684     57,948,111
Accumulated deficit                              (73,705,809)   (71,949,921)
Accumulated other comprehensive income                51,501         62,229
                                               -------------  -------------
Total stockholders' equity (deficit)             (15,297,223)   (13,918,580)
                                               -------------  -------------
Total liabilities, preferred stock and
 stockholders' equity (deficit)                $  17,842,773  $  16,358,166
                                               =============  =============

Company Contact

Talon International, Inc.
Rayna Hernandez
Tel (818) 444-4128
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Learn how IoT, cloud, social networks and last but not least, humans, can be integrated into a seamless integration of cooperative organisms both cybernetic and biological. This has been enabled by recent advances in IoT device capabilities, messaging frameworks, presence and collaboration services, where devices can share information and make independent and human assisted decisions based upon social status from other entities. In his session at @ThingsExpo, Michael Heydt, founder of Seamless...
The IoT's basic concept of collecting data from as many sources possible to drive better decision making, create process innovation and realize additional revenue has been in use at large enterprises with deep pockets for decades. So what has changed? In his session at @ThingsExpo, Prasanna Sivaramakrishnan, Solutions Architect at Red Hat, discussed the impact commodity hardware, ubiquitous connectivity, and innovations in open source software are having on the connected universe of people, thi...
WebRTC: together these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at WebRTC Summit, Cary Bran, VP of Innovation and New Ventures at Plantronics and PLT Labs, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it may enable, complement or entirely transform.
For manufacturers, the Internet of Things (IoT) represents a jumping-off point for innovation, jobs, and revenue creation. But to adequately seize the opportunity, manufacturers must design devices that are interconnected, can continually sense their environment and process huge amounts of data. As a first step, manufacturers must embrace a new product development ecosystem in order to support these products.
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, showed how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants received the download information, scripts, and complete end-t...
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, discussed how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the dat...
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT’s direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...