iFabric Corp. (TSX:IFA) is an Ontario-based company that is engaged in the business of women’s intimate apparel. Shares have plunged 52% in 2018 as of close on December 13. The stock has been mostly flat over the past three months, in comparison to the broader bloodbath that has taken place across global markets.
iFabric is set to release its fourth-quarter and full-year results on December 19. In the third quarter the company saw revenues drop 33% year-over-year to $3.29 million while only reporting net earnings of $11,235 over $512,041 in Q3 2017.
Leadership called Q3 a "transitional quarter" as the company merged both of its operating divisions into one entity. It expects the phase-out of its sleepwear offerings to result in a decrease in revenue in the near term.
For the full-year revenue has climbed to $12.63 million compared to $12.24 million in the prior year. Intimate Apparel revenues rose 14% year over year.
Gross profit has increased 10% year-over-year to $6.22 million, or 49% of revenues. iFabric has reported that is in the middle of negotiations with U.S. retailers in the hopes of program adoptions powering its Intelligent Fabrics business in 2019 and beyond.
The stock has climbed out of 52-week lows but is still firmly under the $2 mark and has been since the late summer. iFabric stock last had an RSI of 49, indicating that shares are neither overbought nor oversold.
