EX-99
2
praust.htm
PRESS RELEASE AUSTRALIA/NEW ZEALAND SUBSIDIARIES
Press Release Australia/New Zealand Subsidiaries
EXHIBIT 99.1
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. Public Relations
Investor Contact: Robin Cohan, Chief Financial Officer & Treasurer
Tropical Sportswear Int'l Corporation (813) 249-4900
TROPICAL SPORTSWEAR ANNOUNCES SALE OF SOUTH PACIFIC DIVISION
Tampa, FL, October 4, 2004 - Tropical Sportswear Int'l Corporation
(Nasdaq:TSIC) ("TSI"), a designer, producer and marketer of high-quality branded
and retailer private branded apparel, announced that it has sold its South Pacific
division to the division's current senior management for $3.0 million. The
division, which has annual sales of approximately $8.0 million, sells products
marketed under the Farah(R)and Savane(R)brands to department stores and specialty
retailers in Australia and New Zealand. The transaction includes a sub-license
agreement for the use of the two trademarks. In connection with the sale, TSI
expects to record a non-cash loss of approximately $3.5 million during its fiscal
fourth quarter.
"As TSI moves forward with its new business strategy, we continue to look
for opportunities to further improve our operations and position the company for
long-term success", said CEO Michael Kagan.
"The Farah(R)and Savane(R)brands are popular among consumers in the South
Pacific region", said Paul Box, Managing Director. "This transaction presented a
win-win opportunity for both parties, and we are looking forward to continuing to
work with TSI through our sub-license agreement".
TSI (Nasdaq:TSIC) is a designer, producer 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(TM), 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),
Geoffrey Beene(R), Izod(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,
failure to achieve financial expectations associated with the sale of the South
Pacific division; failure to achieve expected royalties associated with the
sub-license agreement; 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 praust . htm PRESS RELEASE AUSTRALIA / NEW ZEALAND SUBSIDIARIES Press Release Australia / New Zealand Subsidiaries EXHIBIT 99 . 1 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 . Public Relations Investor Contact : Robin Cohan , Chief Financial Officer & Treasurer Tropical Sportswear Int ' l Corporation ( 813 ) 249 - 4900 TROPICAL SPORTSWEAR ANNOUNCES SALE OF SOUTH PACIFIC DIVISION Tampa , FL , October 4 , 2004 - Tropical Sportswear Int ' l Corporation ( Nasdaq : TSIC ) ( " TSI " ) , a designer , producer and marketer of high - quality branded and retailer private branded apparel , announced that it has sold its South Pacific division to the division 's current senior management for $ 3.0 million . The division , which has annual sales of approximately $ 8.0 million , sells products marketed under the Farah ( R ) and Savane ( R ) brands to department stores and specialty retailers in Australia and New Zealand . The transaction includes a sub - license agreement for the use of the two trademarks . In connection with the sale , TSI expects to record a non - cash loss of approximately $ 3.5 million during its fiscal fourth quarter . " As TSI moves forward with its new business strategy , we continue to look for opportunities to further improve our operations and position the company for long - term success " , said CEO Michael Kagan . " The Farah ( R ) and Savane ( R ) brands are popular among consumers in the South Pacific region " , said Paul Box , Managing Director . " This transaction presented a win - win opportunity for both parties , and we are looking forward to continuing to work with TSI through our sub - license agreement " . TSI ( Nasdaq : TSIC ) is a designer , producer 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 ( TM ) , 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 ) , Geoffrey Beene ( R ) , Izod ( 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 , failure to achieve financial expectations associated with the sale of the South Pacific division ; failure to achieve expected royalties associated with the sub - license agreement ; 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 .
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