"Over the past several years, we have used our free cash flow predominantly to pre-pay debt and, as a result, we have significantly reduced our financial leverage and our interest expense, as reflected by our total debt decreasing from $128.9 million at the end of fiscal 2005 to $45.2 million at the end of fiscal 2010, and our interest expense decreasing from $15.3 million in fiscal 2005 to $3.3 million in fiscal 2010.
“With this significant reduction in our financial leverage and interest expense, we believe it is now appropriate for us to use a portion of our earnings and cash flow to return cash to our stockholders through a regular quarterly cash dividend which can enhance the total return to our stockholders, while also potentially broadening our investor base."
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Destination Maternity Corporation
marketing@alchempro.com
