SEMINOLE, Fla., Oct. 19, 2011 (GLOBE NEWSWIRE) -- Superior Uniform Group, Inc., manufacturer of uniforms, career apparel and accessories, today announced that for the third quarter ended September 30, 2011, net sales were $30,731,000 compared with 2010 third quarter net sales of $27,301,000. Net earnings were $1,880,000 or $.31 per common share (diluted), compared with net earnings of $1,372,000 or $.23 per common share (diluted) in the 2010 third quarter.

For the nine months ended September 30, 2011, net sales were $85,135,000, compared with net sales of $79,910,000 in the nine months ended September 30, 2010. Net earnings for the nine months ended September 30, 2011 were $3,411,000 or $.56 per share (diluted), versus earnings of $2,863,000 or $.48 per share (diluted) in the first nine months of 2010.

Michael Benstock, Chief Executive Officer, commented: "We are very pleased to report an increase of 37.0% in our net earnings and 12.6% in our net sales for the third quarter of 2011. Gains in our core business resulted from increased net unit sales in the current quarter as well as higher average selling prices. After reaching record highs earlier in the year, raw material prices have begun declining in recent months. The impact of these decreases will not be realized in our inventories for at least three to six months. As a consequence of the higher pricing of raw materials during the shortages earlier this year, our margins for our core business were down in the current quarter and we expect that they will continue to be pressured for the next several quarters as we work through this higher priced inventory.

Our strong earnings results for the current quarter are attributed to the significant increases in net sales and our continued strong cost control measures. Additionally, as we previously announced, we launched our new division, everyBODY media(TM) during the first quarter. Our operating results for the third quarter of 2011 include approximately $320,000 of expenses associated with this new venture. We have received very favorable responses from the market relative to our efforts to validate the concept and expect to begin seeing revenues from this division late this year.