• Selling, general and administrative expenses increased 1 percent or $5 million to $422 million for the quarter from $417 million in the 2005 period. Higher SG&A expenses in the 2006 period were primarily attributable to an increase in company-operated retail stores and the impact of currency translations, partially offset by lower advertising and promotion expense in Europe.
• Operating income for the fourth quarter increased $49 million to $170 million compared to $121 million for the 2005 period. The 40 percent increase was primarily due to higher net revenues and improved gross margin.
• Net income for the fourth quarter was $96 million compared to $44 million in same period of 2005. The improvement was driven primarily by higher operating income and lower tax expense primarily attributable to a $29 million net reversal of valuation allowances due to operating profits in certain jurisdictions.
marketing@alchempro.com
