Trim manufacturer, Talon International Inc., reported improved earnings in the fourth quarter thanks to new brand launches in the past year.
The Woodland Hills company reported a net income of $600,000 for the fourth quarter of 2011 compared to a loss of $24,000 for the year prior.
Fourth quarter sales increased 15 percent to $10.3 million from $9 million in 2010.
For the full 2011 fiscal year, Talon reported net income of $729,000 compared to a loss of $1.5 million in the previous year. Sales for 2011 totaled $41.7 million, compared to $41.4 million.
"Our sales results for 2011 were up modestly from the prior year, as we added new brands reflecting strong growth in the second half of the year, and overshadowed a soft first half due to increased competition within the mass merchandiser market sector," Lonnie Schnell, Talon's CEO, said in a prepared statement. "For the full year 2011 we added in excess of $6 million in sales from new products and private label brands who chose Talon over former suppliers to serve their apparel trim requirements going forward.”