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Delta Apparel (DLA) plunges 16% AH after warning it expects FQ2 revenue of $105M, below a $113M...

Delta Apparel (DLA) plunges 16% AH after warning it expects FQ2 revenue of $105M, below a $113M consensus. Delta also says it will take a $1.20/share inventory charge during the quarter. Excluding the charge, Delta's EPS is expected to be in the range of -$0.38 to -$0.42, much worse than a $0.02 consensus. For FY12, Delta now expects revenue of $480M-$500M and EPS of $1.70-$1.80, below a consensus of $514.6M and $2.05.
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