| Business Summary | | Worldtex,
Inc.
is
a
holding
company
engaged,
through
its
subsidiaries,
in
the
supply
of
elastomeric
components
to
the
textile
and
apparel
industries.
The
Company
has
two
main
product
lines,
covered
elastic
yarns
and
narrow
elastic
fabric.
Historically,
covered
elastic
yarns
were
principally
used
in
the
manufacture
of
women's
pantyhose
and
other
hosiery
products.
Today,
covered
elastic
yarn
is
used
in
a
broad
range
of
apparel,
including
sweaters,
swimwear,
running
clothes,
athletic
uniforms,
slacks,
skirts
and
dresses,
as
well
as
in
pantyhose
and
socks.
Narrow
elastic
fabrics
are
elasticized
fabric
bands,
typically
under
six
inches
in
width,
that
are
used
as
components
in
the
production
of
a
broad
range
of
apparel
products,
such
as
waistbands
for
men's,
women's
and
children's
underwear,
athletic
apparel
and
other
garments,
straps,
facings
and
edgings
in
women's
intimate
apparel
and
elastic
bands
in
women's
hosiery. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Worldtex,
Inc.
is
a
holding
company
engaged
through
its
subsidiaries
in
the
supply
of
elastomeric
components,
including
covered
elastic
yarns
and
narrow
elastic
fabrics,
to
the
textile
and
apparel
industries.
For
the
nine
months
ended
9/30/00,
net
sales
fell
11%
to
$197.9
million.
Net
loss
before
extraordinary
item
totaled
$8.9
million
vs.
an
income
of
$1.4
million.
Results
reflect
lower
unit
volume
and
pricing
and
an
unfavorable
change
in
product
mix. | More
from
Market Guide: Significant
Developments |
| | | | FY1999 Pay | |
| Barry Setzer, 57 Chairman,
Pres, CEO | $661K | Edward Gleadall, 59 VP | 204K | Kenneth O' Neill, 55 VP | 147K | Mitchell Setzer, 50 Treasurer,
Sec. | 135K | Donald Pruitt, 51 Controller | -- | Dollar
amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|