Delta Apparel, Inc. (NYSE Amex: DLA) reported financial results for its fourth quarter and fiscal year ended July 2, 2011.

Fourth Quarter Highlights

Net sales increased 9.1% to a record $137.6 million from $126.2 in the prior year period
Gross margins improved 340 basis points to 27.3%
Net income increased 50.6% to $8.5 million from $5.7 million in the prior year
Diluted EPS increased 51.6% to $0.97 from $0.64 in the prior year period

Fiscal 2011 Highlights

Net sales increased 12.0% to a record $475.2 million from $424.4 million in the prior year
Gross margins improved 80 basis points to 24.5%
Net income increased 42.2% to $17.3 million from $12.2 million in fiscal year 2010
Diluted EPS increased 41.4% to $1.98 compared to $1.40 last fiscal year

On August 17, 2011, the Company