Israel-based provider of ladies' intimate apparel, socks, men's underwear and leisurewear Delta Galil Industries Ltd. has reported second quarter revenues of $176.5 million compared with $168.9 million in the second quarter of 2005—an increase of 4.5%. Revenues for the first half of 2006 were $348.5 million compared with $342.3 million in the first half of 2005, an increase of 1.8%.

Net income in the second quarter was $0.5 million compared with the net loss of $3 million reported in the second quarter of last year.

During the second quarter of 2006, the company decided to reorganise its activities in the Far East, which will include the closure of the Delta sewing plant in China. As a result, second quarter results include reorganisation expenses of $1.7 million.

Net income in the second quarter, excluding reorganisation expenses and capital gains, was $2 million compared with a net loss of $3 million in the second quarter of 2005.

Net loss in the first half of 2006 narrowed to $0.5 million compared with net loss of $5.9 million in the first half of 2005. Net income in the six-month period, excluding reorganisation expenses and capital gains, was $0.7 million compared with the net loss of $5.9 million in the first half of last year.