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Superior Uniform Group, Inc. Reports 94% Increase In Earnings Per Share For The Year Ended December 31, 2010

Stocks in this article: SGC

"As both the advertising and image apparel industries evolve with the introduction of new technologies and changing consumer demands, we believe we are perfectly positioned to bring EYELEVEL INTERACTIVE'S vision for iPOPS to reality and directly to consumers," Benstock added. "This timely execution of new media and technology has unlimited potential for our customers to target their specific audiences by being at the forefront of the most cutting edge marketing and advertising tool in the retail space. These new products provide our customers with the ability to convert their uniform expenses into potential increased sales and advertising revenues."


Superior Uniform Group, Inc., established in 1920, is one of America's foremost providers of fine uniforms and image apparel. Superior manages award-winning apparel programs for major corporations. They are leaders in innovative uniform program designs, global manufacturing, and state-of-the-art distribution.   Superior, through their subsidiary "The Office Gurus" is also a near-shore premium provider of cost effective bilingual contact center and office solutions. Superior's financial strength and resources support a customer's diverse needs while embracing a "Customer 1st, Every Time!" philosophy and culture. Their commitment to service, technology, quality and value-added benefits separates them from the competition in each of their six primary markets: Healthcare, Hospitality, Food Service, Retail Employee I.D., Private Security, and Rental Service. For more information please call (800) 727-8643, or visit their Web site at:

Statements contained in this press release which are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties, including without limitation those identified in the Company's SEC filings, which could cause actual results to differ from those projected.

Comparative figures for 2010 and 2009 are as follows:

Superior Uniform Group, Inc. and Subsidiaries
Consolidated Summary of Operations
  Three Months Ended December 31,
  2010 2009
Net sales $ 25,967,476 $ 26,508,907
Costs and expenses:    
Cost of goods sold  16,760,423  17,945,367
Selling and administrative expenses  7,776,793  7,855,370
Interest expense  6,735  26,569
   24,543,951  25,827,306
Earnings before taxes on income  1,423,525  681,601
Taxes on income  480,000  170,000
Net earnings  $ 943,525 $ 511,601
Per Share Data:    
Net earnings  $ 0.16 $ 0.09
Net earnings $ 0.16 $ 0.09
Cash dividends per common share $ 0.135 $ 0.135
Superior Uniform Group, Inc. and Subsidiaries
Consolidated Summary of Operations
  Twelve Months Ended December 31,
  2010 2009
Net sales $ 105,877,854 $ 102,801,921
Costs and expenses:    
Cost of goods sold  68,411,383  69,583,043
Selling and administrative expenses  31,696,430  30,402,389
Interest expense  23,041  119,607
   100,130,854  100,105,039
Earnings before taxes on income  5,747,000  2,696,882
Taxes on income  1,940,000  730,000
Net earnings  $ 3,807,000 $ 1,966,882
Per Share Data:    
Net earnings $ 0.64 $ 0.33
Net earnings $ 0.64 $ 0.33
Cash dividends per common share $ 0.54 $ 0.54
Superior Uniform Group, Inc. and Subsidiaries
Consolidated Balance Sheets
December 31,
  2010 2009
Cash and cash equivalents $ 9,107,461 $ 6,365,557
Accounts receivable  16,523,061  16,299,922
Accounts receivable - other  1,274,209  1,644,607
Inventories  31,029,947  32,053,504
Prepaid expenses and other current assets  4,030,708  2,764,434
TOTAL CURRENT ASSETS  61,965,386  59,128,024
PROPERTY, PLANT AND EQUIPMENT, NET  9,463,884  10,868,296
OTHER INTANGIBLE ASSETS  911,225  1,295,859
DEFERRED INCOME TAXES  1,680,000  2,060,000
OTHER ASSETS  173,403  215,684
  $ 74,193,898 $ 73,567,863
Accounts payable $ 5,103,768 $ 5,426,433
Accrued expenses  3,713,038  2,226,653
TOTAL CURRENT LIABILITIES  8,816,806  7,653,086
LONG-TERM PENSION LIABILITY  3,535,470  5,115,817
TOTAL SHAREHOLDERS' EQUITY  61,099,622  60,118,960
  $ 74,193,898 $ 73,567,863
CONTACT: Andrew D. Demott, Jr., CFO
         (727) 803-7135

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