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INTERNATIONAL TEXTILE GROUP INC

SIC 2200 · Textile Mill Products
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INTERNATIONAL TEXTILE GROUP INC

CIK:0000918964|SEC Filings
v3.5.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net sales $ 148,430 $ 157,281 $ 297,560 $ 301,407
Cost of goods sold 123,483 134,019 248,384 259,964
Gross profit 24,947 23,262 49,176 41,443
Selling and administrative expenses 12,188 11,934 23,939 23,594
Provision for (recovery of) bad debts (12) 354 26 433
Other operating income - net (2,961) (3,182) (2,940) (3,175)
2016 charges 22 318
Income from operations 15,710 14,156 27,833 20,591
Non-operating other income (expense):        
Interest income 77 54 144 100
Interest expense - related party PIK interest (5,706) (5,027) (11,211) (9,853)
Interest expense - third party (1,254) (1,913) (2,567) (3,874)
Other income (expense) - net 916 42 779 595
Total non-operating other income (expense) - net (5,967) (6,844) (12,855) (13,032)
Income from continuing operations before income taxes and equity in losses of unconsolidated affiliates 9,743 7,312 14,978 7,559
Income tax (expense) benefit (1,377) 1,357 (2,189) 606
Equity in losses of unconsolidated affiliates (45) (105)
Income from continuing operations 8,366 8,624 12,789 8,060
Loss from discontinued operations, net of income taxes (13) (11) (29) (35)
Net income 8,353 8,613 12,760 8,025
Net income 8,353 8,613 12,760 8,025
Accrued preferred stock dividends, including arrearages for the period (4,559) (4,215) (9,030) (8,303)
Net income (loss) attributable to common stock $ 3,794 $ 4,398 $ 3,730 $ (278)
Net income (loss) per share attributable to common stock, basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.22 $ 0.25 $ 0.21 $ (0.02)
Loss from discontinued operations (in dollars per share)
(in dollars per share) 0.22 0.25 0.21 (0.02)
Net income (loss) per share attributable to common stock, diluted:        
Income (loss) from continuing operations (in dollars per share) 0.20 0.23 0.21 (0.02)
Loss from discontinued operations (in dollars per share)
(in dollars per share) $ 0.20 $ 0.23 $ 0.21 $ (0.02)
Weighted average number of shares outstanding - basic (in shares) 17,468 17,468 17,468 17,468
Weighted average number of shares outstanding - diluted (in shares) 27,403 26,681 17,468 17,468