International Textile Group, Inc. Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

(in million USD)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of change (%) Factors
Overall
Net Sales 624.2 619.1 0.8 1)
Operating Income 31.4 20.8 51.0 2)
Sales by Segment
Bottom-weight Woven Fabrics 578.3 566.3 2.1 -
Narrow Fabrics 24.1 26.8 (10.1) -

Factors
1) Net Sales
-The Company's net sales in 2013 increased by 0.8% from the previous year to USD 624.2 million. Contributing factors to the increase in sales include sales volume increases in denim, synthetic fabrics and worsted wool businesses and higher selling prices in the Company's US government uniform and worsted wool businesses. These increases were partially offset by lower cotton prices, volume declines affecting non-uniform government related businesses, and volume declines in the airbag business due to competitive pressures. 

2) Operating Income
-In 2013, the Company's operating income grew 51.0% to USD 31.4 million. The gain in operating income was due to higher gross profit margins as well as lower selling and administrative expenses and lower restructuring charges.

R&D

R&D Expenditure

(in million USD)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Total 6.6 6.6 6.3

Investment Activities

Capital Expenditure

(in million USD)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Total 4.9 2.0 3.4

-The Company projects its capital expenditures in 2014 to range between USD 12.0 million and USD 14.0 million.

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Frankfurt am Main, Germany
+49-69–904-3870-0
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+86-21-6212-6562
CHN China (Shenzhen)
Nanshan District, Shenzhen, Guangdong
+86-755-2267-1725
THA Thailand
Klongtoey, Bangkok, Thailand
+66-2-665-2840
IND India
Gurgaon, Haryana, India
+91-124-4048779