Talon International Inc. reported a turnaround from loss to profit in both the fourth quarter and full year of 2013.
The Woodland Hills supplier of zippers and apparel accessories reported net income of $7.5 million (8 cents a share) in the quarter ended Dec. 31, compared to a loss of $872,000 (-4 cents) for the same quarter the previous year. Revenue grew 5 percent to $11.9 million.
No analysts follow the company.
For the full year, Talon reported net income of $14.8 million (26 cents a share) compared to a loss of $2.6 million (-12 cents) compared to the previous year. Revenue grew 18 percent to $52.4 million.
In a conference call Monday, Chief Executive Lonnie Schnell noted that total sales were up and operating costs down in 2013. Additionally, Talon benefited from the settlement of a trademark infringement litigation that resulted in $350,000 for the company.
“We had several major accomplishments in 2013 that we were very pleased with; our operating income was clearly one of those,” Schnell said in a statement.
Shares were unchanged at 25 cents in trading on the over-the-counter market.