Full Year Results (53 weeks compared to 52 weeks last year):
Net income for the 53 weeks ended February 3, 2007 increased 39% to $112.6 million and earnings per share increased 35% to $2.03, as compared to prior year 52 week proforma net income of $81.1 million, or $1.50 per share (which has been adjusted for $0.25 of stock option expense per share as if the Company expensed stock options, and excludes merger integration and store closing costs and gain on sale of investment). Earnings guidance provided on November 13, 2006 was for earnings per share of approximately $1.95 - 1.98.
On a GAAP basis, net income increased to $112.6 million and earnings per share increased to $2.03, as compared to prior year net income of $73.0 million, or $1.35 per share which included $37.8 million pre-tax of merger integration costs and a $1.8 million pre-tax gain on sale of investment.
Net sales for the 53 weeks increased 19% to $3,114.2 million while comparable store sales increased 6.0% on a 52-week to 52-week comparable basis. The former Galyan's stores are not included in the year-to-date comparable store sales calculation as they were not in the comp store base at the beginning of 2006.
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Dick's Sporting Goods Inc
marketing@alchempro.com
