American Apparel delays 10-Q filing but provides preliminary results

|By:, SA News Editor

American Apparel (NYSEMKT:APP) discloses it will not meet the filing deadline for Q2 financial statements, but the filing contains preliminary figures including an estimated net loss of $15M, or ~$0.09/share, vs. a $38M net loss, or ~$0.34/share, in the prior-year period.

Net sales for the quarter are estimated at $162M, flat Y/Y; operating income was ~$5M vs. a year-ago loss from operations of $2M; operating expenses are estimated at $79M, or 49% of net sales, compared to $86M, or 53% of net sales, a year ago.

At June 30, APP had ~$10 million in cash; as of Aug. 1, it had ~$23M available for additional borrowing under its credit facility.

APP -4.3% AH.