Superior Group of Companies, Inc. Reports Operating Results for the Fourth Quarter and Year Ended December 31, 2019

Fourth quarter net sales up 14.1% and Annual net sales up 8.8%

SEMINOLE, Fla., Feb. 20, 2020 (GLOBE NEWSWIRE) — Superior Group of Companies, Inc. (NASDAQ: SGC), today announced its fourth quarter and year-end operating results for 2019.

The Company announced that for the year ended December 31, 2019, net sales increased $30.4 million or 8.8% percent to $376.7 million. Pre-tax income was $15.3 million compared to $21.4 million in 2018. Net income for the fiscal year 2019 was $12.1 million, or $0.79 per diluted share, compared to $17.0 million, or $1.10 per diluted share, in 2018.

Net sales for the fourth quarter ended December 31, 2019 were $108.4 million, an increase of 14.1% compared to the 2018 fourth quarter of $95.0 million. Pre-tax income was $4.0 million compared to $5.7 million in the 2018 fourth quarter. Net income for the fourth quarter ended December 31, 2019 was $3.0 million, or $0.20 per diluted share, compared to $4.6 million, or $0.30 per diluted share, reported for the fourth quarter 2018.

Michael Benstock, Chief Executive Officer, commented, “We were pleased with our overall performance in the fourth quarter and 2019 as a whole. Sales at BAMKO, which comprises our Promotional Products Segment, grew 54% for the quarter and 33% for the year, eclipsing $107 million. Sales at The Office Gurus, our Remote Staffing Segment, grew nicely at 17% and 16% for the quarter and year, respectively. In our Uniform Segment we made significant progress to position ourselves for growth through the appointment of new leadership and re-organizations within our Healthcare and Employee ID businesses; the integration of our ERP system across the segment; expansion of our manufacturing capabilities in Haiti; and initiating the expansion and modernization of our largest automated warehouse facility in Arkansas. We are better positioned than ever with our leadership, teams, systems, infrastructure, expanded product assortment and service lines to meet and exceed our existing customers’ expectations and gain market share. I’m quite satisfied with our progress in these areas during 2019 and am confident in the overall trajectory of our businesses as we enter 2020.”

CONFERENCE CALL
Superior Group of Companies will hold a conference call on Thursday, February 20, 2020 at 2:00 p.m. Eastern Time to discuss the Company’s results. Interested individuals may join the teleconference by dialing (844) 861-5505 for U.S. dialers and (412) 317-6586 for International dialers. The Canadian Toll Free number is (866) 605-3852. Please ask to be joined into the Superior Group of Companies call. The live webcast and archived replay can also be accessed in the investor information section of the Company’s website at www.superiorgroupofcompanies.com.

A telephone replay of the teleconference will be available one hour after the end of the call through 2:00 p.m. Eastern Time on March 5, 2020. To access the replay, dial (877) 344-7529 in the United States or (412) 317-0088 from international locations. Canadian dialers can access the replay at (855) 669-9658. Please reference conference number 10139049 for all replay access.

About Superior Group of Companies, Inc. (SGC):

Superior Group of Companies^™, formerly Superior Group of Companies, established in 1920, is a combination of companies that help customers unlock the power of their brands by creating extraordinary brand experiences for employees and customers. It provides customized support for each of its divisions through its shared services model.

Fashion Seal Healthcare^®, HPI^™ and CID Resources are signature uniform brands of Superior Group of Companies. Each is one of America’s leading providers of uniforms and image apparel in the markets it serves. They specialize in innovative uniform program design, global manufacturing, and state-of-the-art distribution. Every day, more than 6 million Americans go to work wearing a uniform from Superior Group of Companies.

BAMKO^®, Tangerine Promotions^® and Public Identity^® are signature promotional products and branded merchandise brands of Superior Group of Companies. They provide unique custom branding, design, sourcing, and marketing solutions to some of the world’s most successful brands.

The Office Gurus^® is a global provider of custom call and contact center support. As a true strategic partner, The Office Gurus implements customized solutions for its customers in order to accelerate their growth and improve their customers’ service experiences.

SGC’s commitment to service, technology, quality and value-added benefits, as well as its financial strength and resources, provides unparalleled support for its customers’ diverse needs while embracing a “Customer 1st, Every Time!” philosophy and culture in all of its business segments.

Visit www.superiorgroupofcompanies.com for more information.

Comparative figures are as follows: