secwatch.observer — SEC 8-K summary
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Issuer:     SUPERIOR GROUP OF COMPANIES, INC. (SGC)
CIK:        0000095574
Form:       8-K
Filed at:   2022-03-23T23:59:59+00:00
Accession:  0001437749-22-006961
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.0
LLM model:  deepseek-v4-flash:cloud@v2

Superior Group restates 2021 earnings; net income up $2.2M on tax correction
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- Full-year 2021 net sales $537.0M (+2% YoY); net income $29.4M ($1.83 diluted EPS) vs $41.0M ($2.65) in 2020.
- Correction reduced tax expense by $2.2M, increasing net income by $0.14 per diluted share.
- Q4 2021 net sales $142.0M (-2.3% YoY); net income $4.4M ($0.27 diluted) vs $12.5M ($0.79).
- Non-cash pension termination charge of $7.8M pre-tax reduced full-year net income by $0.32 per share.
- Excluding PPE, BAMKO sales up 65% and The Office Gurus up 54% annually; PPE inventory write-down $2.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/95574/000143774922006961/0001437749-22-006961-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/95574/000143774922006961/sgc20220316b_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-006961

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer