Third Quarter Highlights
Gross profit increased 15% to $82.5 million for the third quarter of fiscal 2012 compared to $71.6 million in the third quarter of fiscal 2011 while gross margin declined 240 basis points to 33.2% of net revenues. Higher levels of markdowns and customer allowances decreased gross margin by approximately 1%. In addition, approximately $1.7 million of unshipped gross profit dollars for the quarter adversely affected total Company gross profit.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter was $16.1 million compared to $16.9 million for the third quarter of fiscal 2011.The impact of unshipped revenue, promotional activity, and increased investment in the business impacted EBITDA by approximately $7.2 million.
Net income attributable to Perry Ellis International, Inc. for the third quarter was $6.5 million, or $0.40 per fully diluted share (EPS), compared to $7.2 million or $0.51 per share in the third quarter of fiscal 2011.
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Perry Ellis International
marketing@alchempro.com
