Delta Apparel, Inc. noted that for its recently reported third quarter, the company's diluted earnings per share increased by 39.6% to $1.27 per diluted share (on a pre-split basis) compared to 91 cents in the year-ago period.
As reported on April 28, 2005, the Company will execute a two-for-one stock split (effective as of May 31, 2005). At that time, the post-split earnings per share results for the fiscal third quarter will be reduced to $0.64 per diluted share to reflect the two-for-one stock split. The Company noted that some financial news and data services have not properly communicated its reported earnings per share as a result of the impending stock split. To clarify, the Company noted that its trailing twelve month earnings per share results through April 2, 2005 are $3.16 (on a pre-split basis). Upon the effectiveness of the two-for-one stock split, the trailing twelve month earnings per share results will be $1.58.
