Israeli producer of seamless intimate apparel, swimwear and activewear Tefron Ltd. has posted revenues of $48.8 million for the first quarter, 1.2% lower than the $49.4 million reported for the comparable quarter in 2006. The slight decline was said to be due to an anticipated reduction in sales of activewear during the first half of 2007, which was partly offset by an increase in sales of swimwear and a slight increase in sales of intimate apparel products.

Income from continuing operations was $3.8 million compared with $5.2 million in the first quarter of 2006.

Commenting on the results, Yos Shiran, CEO, said, “As pointed out during the last quarter, we anticipated a temporary decline in activewear sales in the first half of 2007, with a strengthening of activewear sales in the second half of 2007.” Tefron manufactures seamless intimate apparel, activewear and swimwear sold under brands such as, Nike, Target, The Gap, Banana Republic, J. C. Penney, lululemon athletica, Warnaco/Calvin Klein, Patagonia, and Reebok.