Company
Suture
-17.81%
Base:2,178
opening:2,178
High:2,178
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Engaged in the field of clothing. The company reports its results for the fourth quarter and the year 2021. Although the company shows growth in the top and bottom line compared to last year, it is a decline compared to the previous quarter, and there is a decline in profitability with a decrease in the operating profit rate. Investors drop the stock after the reports. This may be due to the disappointment from the quarterly lack of growth as the stock has soared above 730% in two years. The stock has been faltering in recent months, apparently in anticipation of continued positive development or growth, which did not come in the end.
Sales for the fourth quarter of 2021 were $ 63.5 million compared to $ 54.9 million a year earlier. In the previous quarter, sales were $ 71.7 million. The gross profit margin was 21.1% compared to 18.9% in 2020. The gross profit was $ 13.4 million compared to 10.3 in the corresponding quarter and 13.3 in the previous quarter. Operating profit was $ 4 million compared to $ 3.8 million a year earlier and $ 4.6 million in the third quarter. The operating profit margin was 6.3% compared to 7% a year earlier and 6.4% in the previous quarter. Net income was $ 2.5 million compared to $ 2 million in 2020 and net income of $ 4 million in the third quarter of 2021.
Annual revenue for 2021 was $ 261.3 million compared to $ 180 million in 2020. The gross profit margin reached 20.6% compared to 17.4% in the previous year. Gross profit reached $ 53.7 million compared to $ 31.3 million the previous year. Operating profit was $ 18.9 million compared to 8.6 million in 2020. EBITDA for 2021 was $ 24.9 million compared to $ 14.3 million in 2020. Bottom line, the company presented a net profit of NIS 14.3 million compared to NIS 4.6 million in the previous year.
According to the company, the brand segment moved to profitability in 2021 after a long period, mainly as a result of the transfer of production activity from Israel to Jordan. The company also emphasizes a 74% increase in EBITDA, which led to an increase in net profit.
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