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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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