(By Balaseshan) Delta Apparel Inc. (NYSEAMEX: DLA), which features a portfolio of activewear apparel and headwear, said it has appointed Steven Cochran as President and Chief Operating Officer, effective immediately.
The appointment was approved by the company's board of directors on January 23. Robert Humphreys will continue as Delta Apparel's Chairman and Chief Executive Officer.
Steve joined Delta Apparel in 2010 as President of the Delta Activewear operating unit with responsibility for its catalog and FunTees businesses. He held various positions with the company, including responsibility for a variety of operating units.
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Prior to joining Delta Apparel, Steve served as President of the Image Apparel Division of VF Corp. Steve began his career with Cintas Corp., a provider of career apparel.
On January 25, Delta Apparel said its board has authorized management to use an additional $10.0 million to repurchase the company's common stock in open market transactions under its stock repurchase program.
Since the inception of its stock repurchase program, the company has used an aggregate $18.0 million to purchase 1.63 million shares at an average price of $11.01 per share. Prior to the Board's action, only $2.0 million remained of the original $20 million authorization under the program.
Delta Apparel is scheduled to release its second quarter earnings results on Monday after the market closes. Street analyst predicts earnings of $0.18 per share on revenue of $107.98 million for the second quarter.
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DLA is trading up 1.44% at $14.11 on Monday. The stock has been trading between $12.65 and $17.90 for the past 52 weeks.