Israeli manufacturer of private label ladies' intimate apparel, socks, men's underwear, babywear and leisurewear Delta Galil Industries Ltd. has reported a decline in revenue for its first quarter ended March 31.

Revenues fell 7.4% to $159.4 million compared with $172.1 million in the first quarter of 2006. Net loss was $13.2 million compared with a net loss of $1 million in the prior-year period.

CEO Aviram Lahav said, "The decrease in sales in Europe and in the US in the first quarter of 2007 is due to the erosion of selling prices and increased competition.”