EX-99
2
prcuttingsabi.htm
PRESS RELEASE CUTTING AND SABI
Press Release
From: TROPICAL SPORTSWEAR INT'L CORPORATION
4902 West Waters Avenue, Tampa, FL 33634
Nasdaq National Market, Symbol: TSIC
Media Contact: Hannah Arnold (212) 575-4545
Linden Alschuler & Kaplan, Inc.
Investor Contact: Robin Cohan, Chief Financial Officer
& Treasurer
Tropical Sportswear Int'l Corporation
(813) 249-4900
----------------------------------------------------------------------------------------------------
For Immediate Release
TROPICAL SPORTSWEAR INT'L REPORTS
SALE OF TAMPA CUTTING FACILITY
AND
SETTLEMENT WITH SWISS ARMY BRANDS, INC.
TAMPA, Florida, November 15, 2004 Tropical Sportswear Int'l Corporation ("TSI") (Nasdaq:
TSIC), a designer and marketer of high-quality branded and retailer private branded apparel,
announced today that it has sold its 110,000 sq. ft. cutting facility located at 4924 West Waters
Avenue in Tampa, Florida. The net cash proceeds of approximately $4.7 million were used to repay
borrowings under the Company's revolving credit line. The building was purchased by the EPR
INVESTMENTS, L.C., owner of Dean Guitars in Florida.
Additionally, TSI announced that it has signed a Settlement Agreement with Swiss Army
Brands, Inc. regarding the transfer of the Victorinox(R)apparel license. Cash proceeds of $3.5
million were used to repay borrowings under the Company's revolving credit line.
TSI is a designer and marketer of high-quality branded and retailer private branded
apparel products that are sold to major retailers in all levels and channels of distribution.
Primary product lines feature casual and dress-casual pants, shorts, denim jeans, and woven and
knit shirts. Major owned brands include Savane(R), Farah(R), Flyers(R), The Original Khaki Co.(R),
Bay to Bay(R), Two Pepper(R), Royal Palm(R), Banana Joe(R), and Authentic Chino Casuals(R). Licensed
brands include Bill Blass(R) and Van Heusen(R). Retailer national private brands that we produce
include Puritan(R), George(TM), Member's Mark(R), Sonoma(R), Croft & Barrow(R), St. John's Bay(R),
Roundtree & Yorke(R), and White Stag(R). TSI distinguishes itself by providing major retailers with
comprehensive brand management programs and uses advanced technology to provide retailers with
customer, product and market analyses, apparel design, and merchandising consulting and inventory
forecasting.
This press release contains forward-looking statements, which are subject to the safe
harbor created by the Private Securities Litigation Reform Act of 1995. Management cautions that
these statements represent projections and estimates of future performance and involve certain
risks and uncertainties. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of factors including, without
limitation, potential negative effects from the sale of the cutting facility; potential negative
effects from the settlement of the Victorinox(R)license agreement dispute and the transition of
this business to Swiss Army Brands, Inc.; potential negative effects of loan agreement covenant
violations should any occur; and other risk factors listed from time to time in the Company's
reports (including its Annual Report on Form 10-K) filed with the U.S. Securities and Exchange
Commission. In addition, the estimated financial results for any period do not necessarily
indicate the results that may be expected for any future period, and the Company assumes no
obligation to update them.

EX - 99 2 prcuttingsabi . htm PRESS RELEASE CUTTING AND SABI Press Release From : TROPICAL SPORTSWEAR INT ' L CORPORATION 4902 West Waters Avenue , Tampa , FL 33634 Nasdaq National Market , Symbol : TSIC Media Contact : Hannah Arnold ( 212 ) 575 - 4545 Linden Alschuler & Kaplan , Inc . Investor Contact : Robin Cohan , Chief Financial Officer & Treasurer Tropical Sportswear Int ' l Corporation ( 813 ) 249 - 4900 ------------------------------------------------------------------------------------------------ ---- For Immediate Release TROPICAL SPORTSWEAR INT ' L REPORTS SALE OF TAMPA CUTTING FACILITY AND SETTLEMENT WITH SWISS ARMY BRANDS , INC . TAMPA , Florida , November 15 , 2004 Tropical Sportswear Int ' l Corporation ( " TSI " ) ( Nasdaq : TSIC ) , a designer and marketer of high - quality branded and retailer private branded apparel , announced today that it has sold its 110,000 sq. ft. cutting facility located at 4924 West Waters Avenue in Tampa , Florida . The net cash proceeds of approximately $ 4.7 million were used to repay borrowings under the Company 's revolving credit line . The building was purchased by the EPR INVESTMENTS , L . C . , owner of Dean Guitars in Florida . Additionally , TSI announced that it has signed a Settlement Agreement with Swiss Army Brands , Inc . regarding the transfer of the Victorinox ( R ) apparel license . Cash proceeds of $ 3.5 million were used to repay borrowings under the Company 's revolving credit line . TSI is a designer and marketer of high - quality branded and retailer private branded apparel products that are sold to major retailers in all levels and channels of distribution . Primary product lines feature casual and dress - casual pants , shorts , denim jeans , and woven and knit shirts . Major owned brands include Savane ( R ) , Farah ( R ) , Flyers ( R ) , The Original Khaki Co . ( R ) , Bay to Bay ( R ) , Two Pepper ( R ) , Royal Palm ( R ) , Banana Joe ( R ) , and Authentic Chino Casuals ( R ) . Licensed brands include Bill Blass ( R ) and Van Heusen ( R ) . Retailer national private brands that we produce include Puritan ( R ) , George ( TM ) , Member 's Mark ( R ) , Sonoma ( R ) , Croft & Barrow ( R ) , St . John ' s Bay ( R ) , Roundtree & Yorke ( R ) , and White Stag ( R ) . TSI distinguishes itself by providing major retailers with comprehensive brand management programs and uses advanced technology to provide retailers with customer , product and market analyses , apparel design , and merchandising consulting and inventory forecasting . This press release contains forward - looking statements , which are subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995 . Management cautions that these statements represent projections and estimates of future performance and involve certain risks and uncertainties . The Company 's actual results could differ materially from those anticipated in these forward - looking statements as a result of factors including , without limitation , potential negative effects from the sale of the cutting facility ; potential negative effects from the settlement of the Victorinox ( R ) license agreement dispute and the transition of this business to Swiss Army Brands , Inc . ; potential negative effects of loan agreement covenant violations should any occur ; and other risk factors listed from time to time in the Company 's reports ( including its Annual Report on Form 10 - K ) filed with the U . S . Securities and Exchange Commission . In addition , the estimated financial results for any period do not necessarily indicate the results that may be expected for any future period , and the Company assumes no obligation to update them .
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O