Sales dip 5.3% at Destination Maternity in Q3 FY'12

• GAAP net income for the first nine months of fiscal 2012 was $14.2 million, a decrease compared to GAAP net income of $20.3 million for the first nine months of fiscal 2011. 
• GAAP diluted earnings per share for the first nine months of fiscal 2012 was $1.07, a decrease compared to $1.55 for the first nine months of fiscal 2011.
• GAAP net income for the first nine months of fiscal 2011 included a reduction of state income tax expense, net of federal tax benefit, of $0.9 million, or $0.07 per share (diluted), related to settlements of uncertain income tax positions.
• Adjusted EBITDA was $37.2 million for the first nine months of fiscal 2012, a decrease compared to the $45.5 million of Adjusted EBITDA for the first nine months of fiscal 2011.

Net sales for the first nine months of fiscal 2012 decreased 0.7% to $413.0 million from $416.0 million for the first nine months of fiscal 2011.  Comparable sales for the first nine months of fiscal 2012 decreased 1.1% versus a comparable sales increase of 0.6% for the first nine months of fiscal 2011.

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Destination Maternity Corporation