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Last $0.14 USD
Change Today -0.0249 / -14.66%
Volume 500.0
TALN On Other Exchanges
Symbol
Exchange
OTC US
Berlin
As of 8:10 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

talon international inc (TALN) Key Developments

Talon International, Inc. Announces Management Changes

On April 10, 2015, Lonnie D. Schnell resigned both as Chief Executive Officer of Talon International, Inc. and as a member of Board of Directors. The company has appointed Larry Dyne as its new Chief Executive Officer, effective April 13, 2015. The company's Board of Directors also appointed Larry Dyne, effective April 13, 2015, to the Board of Directors to fill the vacancy on the Board resulting from Mr. Schnell’s resignation. Larry Dyne (age 42) has served as company's President since May 2009. He has been the employee of company since 1992, and was formerly Executive Vice President of Sales as well as Vice President of Product Development and Global Sourcing, and Vice President of Trim Sales including responsibility for all domestic print production. Through these positions, Mr. Dyne has established long-term relationships with the retailers. Mr. Dyne was appointed to the Board of Directors for his knowledge of industry practices and trends and domestic and international management experience.

Talon International, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Talon International, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net sales were $10,270,427 compared to $11,938,636 for the same period last year. Loss from operations was $199,176 compared to income from operations of $20,723 for the same period last year. Loss before provision for income taxes was $292,690 compared to income before provision for income taxes of $6,162 for the same period last year. Net loss was $316,757 compared to net income of $7,487,963 for the same period last year. Net loss applicable to Common Stockholders was $316,757 or $0.00 per diluted share compared to net income applicable to Common Stockholders of $7,487,963 or $0.08 per diluted share for the same period last year. For the year, the company reported net sales were $49,322,684 compared to $52,447,387 for the same period last year. Income from operations was $1,739,705 compared to $2,757,224 for the same period last year. Income before provision for income taxes was $1,328,435 compared to income before provision for income taxes of $2,731,447 for the same period last year. Net income was $572,069 compared to $9,731,087 for the same period last year. Net income applicable to Common Stockholders was $572,069 or $0.01 per diluted share compared to net income applicable to Common Stockholders of $14,755,874 or $0.24 per diluted share for the same period last year. Total sales decrease compared to 2013, principally the result of a decline in Talon Zipper sales.

Talon International, Inc. to Report Q4, 2014 Results on Mar 16, 2015

Talon International, Inc. announced that they will report Q4, 2014 results After-Market on Mar 16, 2015

Talon International, Inc., Q4 2014 Earnings Call, Mar 16, 2015

Talon International, Inc., Q4 2014 Earnings Call, Mar 16, 2015

Talon International, Inc. Announces Amendment to the Commercial Credit Agreement

On March 3, 2015, Talon International, Inc., entered into an amendment to the Commercial Credit Agreement, originally entered into on December 31, 2013, between Talon and MUFG Union Bank, N.A. to change the terms under the Credit Agreement. The parties agreed to modify the fixed charge covenants for the first two quarters of 2015, and the minimum EBITDA covenant for all of 2015; to increase the interest rates on outstanding balances by 1% commencing as of March 1, 2015 (to the applicable reference plus 3.5% for the revolving loan and 3.75% for the term loan); to require certain prepayments to the term loan; and to re-amortize the regular term loan payments due for the remaining term of the Credit Agreement. The additional principal repayments total $600,000, of which $400,000 will be applied to the term loan during the second quarter of 2015 and $200,000 during the third quarter of 2015. In connection with the Amendment Talon agreed to pay Union Bank a loan modification fee of $50,000, half of which shall be payable on March 31, 2015 and the other half on June 30, 2015. As outlined by the Amendment, financial covenants in the Credit Agreement require Talon and its subsidiaries to maintain the following (specific terms as defined in the Credit Agreement): a Fixed Charge Coverage Ratio between Adjusted EBITDA and future principal and interest payments of not less than 0.70:1.00 as of March 31, 2015, 1.00:1.00 as of June 30, 2015, and 1.25:1.00 as of the close of each fiscal quarter thereafter; a minimum EBITDA for the 12-month period ended as of the last day of each quarter of at least $1,750,000 as of the close of each of the fiscal quarters in 2015, and at least $2,750,000 as of the close of each fiscal quarter thereafter; and no incurrence of a net loss after taxes for more than two consecutive fiscal quarters commencing January 1, 2015.

 

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Price/Sales 0.3x
Price/Book 2.6x
Price/Cash Flow 23.4x
TEV/Sales 0.1x
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