8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC   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 earliest event reported)      April 18, 2013

Superior Uniform Group, Inc.

(Exact name of registrant as specified in its charter)

Florida	001-05869	11-1385670
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
10055 Seminole Blvd., Seminole, Florida (Address of principal executive offices)		33772 (Zip Code)

Registrant's telephone number including area code: (727) 397-9611

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

The following information is being furnished under Item 2.02 of Form 8-K: Press release by Superior Uniform Group, Inc. announcing its results of operations for the quarter ended March 31, 2013. A copy of this press release is attached as Exhibit 99.1 to this Form 8-K.

Item 9.0l. Financial Statements and Exhibits

(c) Exhibits
Exhibit Number	Description
99.1	Press Release, dated April 18, 2013

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.
	Executive Vice President, Chief Financial Officer and Treasurer

Date: April 18, 2013

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release, dated April 18, 2013

EX-99

EXHIBIT 99.1

NEWS RELEASE

Superior Uniform Group, Inc.

A NASDAQ Listed Company: SGC

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, INC. REPORTS FIRST QUARTER OPERATING RESULTS

● 6.8% Increase in Net Sales for Uniforms and Related Products Segment

● 84.3% Increase in Net Sales for Remote Staffing Solutions Segment

● 300% Increase in Earnings Per Share (Diluted)

SEMINOLE, Florida – April 18, 2013 - Superior Uniform Group, Inc. (NASDAQ: SGC), manufacturer of uniforms, career apparel and accessories, today announced that for the first quarter ended March 31, 2013, earnings were $1,229,000 or $0.20 per share (diluted) compared with $327,000 or $0.05 per share (diluted) reported for the quarter ended March 31, 2012. Net sales for the 2013 first quarter were $30,985,000 compared with 2012 first quarter sales of $28,508,000.

Michael Benstock, Chief Executive Officer, commented: “We are very pleased to report an 8.7% increase in net sales for the first quarter of this year. We reported very strong gains in net sales in the quarter for both our Uniforms and Related Products segment and our Remote Staffing Solutions segment. We are especially pleased to report an increase of 300% in our earnings per share (diluted) from $.05 per share in the first quarter of 2012 to $0.20 per share in 2013. Our gross margins in our Uniforms and Related Products segment have returned to pre-cotton crisis levels at 35.5% in the current-year period as compared to 32.8% in the prior-year period. We expect this trend to continue throughout 2013.

“We have invested significantly in our staffing and infrastructure in our Remote Staffing Solutions segment over the past year. We began reaping the rewards of this effort in the fourth quarter of 2012 with a 55% increase in net sales of Remote Staffing Solutions and we are continuing to see accelerated growth in this segment with an increase of 84% in net sales of Remote Staffing Solutions in the first quarter of 2013 in comparison with the first quarter of 2012.

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“Our financial position remains very strong and has us positioned to make further investments in all of our operations as we continue to pursue acquisitions and other opportunities to accelerate the growth of our business.”

ABOUT SUPERIOR UNIFORM GROUP, INC.

Superior Uniform Group, Inc. (NASDAQ: SGC), established in 1920, is one of America's foremost providers of fine uniforms and image apparel. Headquartered in Seminole, Fla., Superior Uniform Group manages award-winning uniform apparel programs for major corporations nationwide.  Leaders in innovative uniform program design, global manufacturing and state-of-the-art distribution, Superior Uniform Group helps companies achieve a professional appearance and communicate their brands—particularly those in the healthcare, hospitality, food service, retail and private security industries. The company’s commitment to service, technology, quality and value-added benefits, as well as its financial strength and resources, support customers’ diverse needs while embracing a "Customer 1st, Every Time!" philosophy and culture. Superior Uniform Group is the parent company to The Office Gurus® and everyBODY media®.  For more information, call (800) 727-8643 or visit www.superioruniformgroup.com.

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.

Comparative figures are as follows:

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SUPERIOR UNIFORM GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

THREE MONTHS ENDED MARCH 31,

(Unaudited)

	2013		2012
Net sales	$	30,985,000	$	28,508,000
Costs and expenses:
Cost of goods sold		19,672,000		19,046,000
Selling and administrative expenses		9,557,000		8,914,000
Interest expense		7,000		11,000
		29,236,000		27,971,000
Income before taxes on income		1,749,000		537,000
Income tax expense		520,000		210,000
Net income	$	1,229,000	$	327,000
Per Share Data:
Basic:
Net income	$	0.20	$	0.05
Diluted:
Net income	$	0.20	$	0.05
Cash dividends per common share	$	-	$	0.135

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SUPERIOR UNIFORM GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MARCH 31,

(Unaudited)

ASSETS
	2013		2012
CURRENT ASSETS:
Cash and cash equivalents	$	3,493,000	$	2,929,000
Accounts receivable - trade		17,318,000		16,036,000
Accounts receivable - other		3,312,000		3,737,000
Prepaid expenses and other current assets		2,665,000		2,152,000
Inventories		39,340,000		40,398,000
TOTAL CURRENT ASSETS		66,128,000		65,252,000
PROPERTY, PLANT AND EQUIPMENT, NET		8,962,000		8,461,000
OTHER INTANGIBLE ASSETS		523,000		2,509,000
DEFERRED INCOME TAXES		4,630,000		3,695,000
OTHER ASSETS		163,000		142,000
	$	80,406,000	$	80,059,000
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	6,246,000	$	5,515,000
Other current liabilities		2,843,000		2,770,000
TOTAL CURRENT LIABILITIES		9,089,000		8,285,000
LONG-TERM DEBT		120,000		1,160,000
LONG-TERM PENSION LIABILITY		10,545,000		8,173,000
OTHER LONG-TERM LIABILITIES		700,000		750,000
DEFERRED INCOME TAXES		90,000		20,000
SHAREHOLDERS' EQUITY		59,862,000		61,671,000
	$	80,406,000	$	80,059,000

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