Delta Apparel Announces Increase in Stock Repurchase Program
DULUTH, Ga.--(BUSINESS WIRE)--April 20, 2006--Delta Apparel, Inc. (AMEX: DLA) announced today that the Board of Directors has increased the Company's authorization to repurchase stock in open market transactions by an additional $5.0 million pursuant to the Company's Stock Repurchase Program. This brings the total amount authorized for share repurchase to $11.0 million, of which $5.9 million remains available for future stock repurchase.
Robert W. Humphreys, President and CEO, commented, "Our repurchase program illustrates the Company's commitment to increasing shareholder value. The stock repurchase program is an excellent use of our capital and is accretive to the per share earnings of our stock."
About Delta Apparel, Inc.
Delta Apparel, Inc., along with its wholly owned subsidiaries, M. J. Soffe Company and Junkfood Clothing Company, is a marketer, manufacturer and distributor of high quality branded and private label activewear apparel. We specialize in selling a variety of casual and athletic activewear tops and bottoms, embellished and unembellished T-shirts, and fleece products for the ever-changing apparel market. We focus on our broad distribution of apparel products to specialty and boutique stores, high-end and mid-tier retail stores, sporting goods stores, screen printers, and private label accounts. In addition, certain products are sold in college bookstores and to the U.S. Military. Our operations are in the United States, Honduras, Mexico and Costa Rica and we employ approximately 3,900 worldwide. Additional information on our company is available at www.deltaapparel.com.
CONTACT: Delta Apparel, Duluth
Company Contact:
Bob Humphreys, 678-775-6900
or
Investor Relations Contact:
Bill Zima, 203-682-8200
SOURCE: Delta Apparel
Released April 20, 2006