Leading brand Management Company Cherokee Inc reported financial results for the fourth quarter and fiscal year ended January 28, 2006.
Highlights:
Revenue increased 16.0 percent in the fourth quarter and 9.8 percent in fiscal 2006.
International revenues increased 12.1 percent to $14.7 million, representing 34.4 percent of our total revenues in fiscal 2006.
Pre-tax income rose 20.2 percent to $7.1 million in Q4 FY06 and 8.7 percent to $30.4 million for the year.
Worldwide annual retail sales of Cherokee-branded products exceeded $2.5 billion.
Worldwide annual retail sales of all owned and represented brands, including Cherokee, exceeded $4.0 billion.
Ended the year with cash and cash equivalents of $11.9 million on balance sheet, receivables of $9.5 million, and zero debt.
Paid dividends of $0.60 per share in December 2005 and March 2006, and during fiscal 2006 paid out $2.15 per share, or $18.8 million in dividends to shareholders.
Net revenues for the fourth quarter of fiscal 2006 increased 16.0 percent to $9.9 million, as compared to revenues of $8.5 million in the fourth quarter of fiscal 2005. For the year ended January 28, 2006, net revenues rose 9.8 percent to $42.7 million, as compared to $38.9 million last year.
Net revenue for fiscal 2006 included $1.1 million in the fourth quarter from the House Beautiful brand at May Company department stores. This represents Cherokee's portion of the one-time contractual buyout of the HouseBeautiful licensing agreement as a result of Federated Department Stores' recent acquisition of May Company department stores. Cherokee has begun to market the HouseBeautiful brand to other potential licensees.
marketing@alchempro.com
