NY-based apparel company's net revenues rise in Q4
27 Feb '07
3 min read
The Warnaco Group Inc reported results for the fourth quarter and full year ended December 30, 2006.
During the fourth quarter of fiscal 2006: • Net revenues increased 35.6% to $480.6 million compared to $354.5 million in the fourth quarter of fiscal 2005. • Gross profit margin was 38.3% of net revenues compared to 34.7% in the prior year quarter. • Operating income increased to $41.1 million, from $19.1 million in the prior year quarter. Pension income was $1.8 million for the fourth quarter of fiscal 2006 compared to pension expense of $0.9 million in the prior year quarter. • Net income was $18.9 million, or $0.41 per diluted share, compared to $6.9 million, or $0.15 per diluted share, in the prior year quarter. • Losses from discontinued operations (net of taxes) were $6.3 million, or $0.14 per diluted share, compared to $2.3 million, or $0.05 per diluted share, in the fourth quarter of fiscal 2005. • Income from continuing operations was $25.1 million, or $0.55 per diluted share, compared to $9.2 million, or $0.20 per diluted share, for the fourth quarter of fiscal 2005.
In fiscal 2006: • Net revenues increased 23.8% to $1.83 billion from $1.48 billion in fiscal 2005. • Gross profit margin increased 400 basis points to 37.9% of net revenues. • Operating income increased to $130.3 million, from $107.4 million in the prior year. Pension income was $1.8 million in fiscal 2006 compared to pension expense of $1.6 million in the prior year.
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