8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of the earliest event reported) April 22, 2004

Commission File Number 1-5869-1

SUPERIOR UNIFORM GROUP, INC.

(Exact Name of Registrant as Specified in Its Charter)

Florida	11-1385670
(State or Other Jurisdiction of Incorporation)	(IRS Employer Identification No.)
10055 Seminole Blvd., Seminole, Florida	33772
(Address of Principal Executive Offices)	(Zip Code)

(727) 397-9611

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if Changed Since Last Report)

Item 12. Results of Operations and Financial Condition

The following information is being furnished under Item 12 of Form 8-K: Press release by Superior Uniform Group, Inc. announcing its results of operations for the quarter ended March 31, 2004. A copy of this press release is attached as Exhibit 99.1 to this Form 8-K.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunder duly authorized.

SUPERIOR UNIFORM GROUP, INC.
By:	/s/ Andrew D. Demott, Jr.
	Andrew D. Demott, Jr.
	Senior Vice President, Chief Financial Officer and Treasurer

Date: April 22, 2004

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release, dated April 22, 2004

EX-99.1

Exhibit 99.1

	NEWS RELEASE
	Superior Uniform Group, Inc. An American Stock Exchange Listed Company 10055 Seminole Boulevard Seminole, Florida 33772-2539 Telephone (727) 397-9611 Fax (727) 803-9623

Contact: Andrew D. Demott, Jr., CFO	FOR IMMEDIATE RELEASE
(727) 803-7135

SUPERIOR UNIFORM GROUP FIRST QUARTER EARNINGS CLIMB BY 81%

SEMINOLE, Florida - April 22, 2004 – Michael Benstock, Chief Executive Officer of Superior Uniform Group, Inc. (AMEX: SGC), manufacturer of uniforms, career apparel and accessories, today announced that for the first quarter ended March 31, 2004, sales were $32,975,388 compared with 2003 first quarter sales of $30,954,947. Net earnings were $1,130,468 or $.15 per share (diluted) compared to 2003 first quarter earnings of $626,186 or $.09 per share (diluted).

In making the earnings announcement, Mr. Benstock stated: “We are very pleased to report a 7% increase in revenues, as well as an 81% increase in net earnings. The first quarter included the positive influence of several new national account contracts that were signed at the end of the third quarter of 2003 as well as a general improvement in business conditions. Our earnings were favorably affected by the increase in sales as well as by our ongoing cost reduction measures. Gross margins remain very strong, as we have continued to focus on broadening the scope of our global sourcing efforts.”

Mr. Benstock continued, “The integration of our recent UniVogue acquisition is progressing nicely and we anticipate that it will continue to add positive results to our 2004 earnings. Slightly less than half of the increase in revenues in the first quarter is attributable to the acquisition of UniVogue, which was effective March 1, 2004. While the general economic outlook still remains somewhat cloudy and is subject to the geopolitical climate, we anticipate that the balance of 2004 will continue to show positive operating results in comparison to 2003.”

Superior Uniform Group, through its marketing divisions – Fashion Seal Uniforms^®, Martin’s^®, Empire^®, Fashion Seal Hospitality, Worklon^®, Universal^®, Sope Creek^®, and UniVogue – manufactures and sells a wide range of uniforms, corporate I.D., career apparel and accessories for the hospital and healthcare fields; hotels; fast food and other restaurants; and public safety, industrial, transportation and commercial markets, as well as corporate and resort embroidered sportswear.

– more –

Statements contained in this press release which are not historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to risks and uncertainties, including without limitation those identified in the Company’s SEC filings, which could cause actual results to differ from those projected.

SUPERIOR UNIFORM GROUP, INC.

CONSOLIDATED STATEMENTS OF EARNINGS

THREE MONTHS ENDED MARCH 31,

(Unaudited)

	2004		2003
Net sales	$	32,975,388	$	30,954,947
Costs and expenses:
Cost of goods sold		21,302,101		20,015,455
Selling and administrative expenses		9,764,758		9,802,665
Interest expense		158,061		170,641
		31,224,920		29,988,761
Earnings before taxes on income		1,750,468		966,186
Taxes on income		620,000		340,000
Net earnings		1,130,468		626,186
Basic net earnings per common share	$	0.15	$	0.09
Diluted net earnings per common share	$	0.15	$	0.09
Dividends per common share	$	0.135	$	0.135

– more –

SUPERIOR UNIFORM GROUP, INC.

CONSOLIDATED BALANCE SHEETS

MARCH 31,

(Unaudited)

	2004			2003
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	11,869,778		$	8,379,346
Accounts receivable and other current assets		28,047,092			22,329,554
Inventories		37,410,289			42,518,137
TOTAL CURRENT ASSETS		77,327,159			73,227,037
PROPERTY, PLANT AND EQUIPMENT, NET		19,156,550			19,302,414
GOODWILL AND OTHER INTANGIBLE ASSETS		3,298,494			741,929
OTHER ASSETS		6,078,078			5,421,273
DEFERRED INCOME TAXES		—			20,000
	$	105,860,281		$	98,712,653
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	6,509,079		$	4,192,836
Accrued expenses		6,508,273			6,437,085
Current portion of long-term debt		1,200,365			1,122,999
TOTAL CURRENT LIABILITIES		14,217,717			11,752,920
LONG-TERM DEBT		5,956,839			7,157,204
DEFERRED INCOME TAXES		100,000			—
SHAREHOLDERS’ EQUITY:
Preferred stock, $1 par value - authorized 300,000 shares (none issued)		—			—
Common stock, $.001 par value - authorized 50,000,000 shares; issued and outstanding 7,422,437, and 7,137,887, respectively		7,422			7,138
Additional paid-in capital		14,215,659			10,933,969
Retained earnings		72,015,644			69,734,422
Cumulative Comprehensive Income (Loss)		(653,000	)		(873,000	)
TOTAL SHAREHOLDERS’ EQUITY		85,585,725			79,802,529
	$	105,860,281		$	98,712,653