Finlay Enterprises Inc, a leading retailer of fine jewelry and the largest operator of licensed fine jewelry departments in department stores throughout the United States, announced its financial results for the first quarter of fiscal 2006.
Sales for the first quarter ended April 29th 2006 totaled $192.1 million compared to $170.5 million in the first quarter of 2005. Carlyle contributed sales of $17.5 million in the current quarter.
For the thirteen weeks ended April 29th 2006, the company reported a loss from continuing operations of $5.3 million compared to a loss of $3.9 million in the first quarter of fiscal 2005. Income from operations before depreciation and amortization expenses (EBITDA) for the first quarter totaled $1.7 million, compared to $2.3 million in the prior year period.
Sales for the first quarter ended April 29th 2006 totaled $159.3 million compared to $139.7 million in the first quarter of 2005. Comparable department sales (departments open for the same months during the comparable period) for the first quarter increased 1.1 percent in the company's go-forward doors.
On this basis, for the thirteen weeks ended April 29th 2006, the company reported a loss from continuing operations of $4.6 million compared to a loss of $5.3 million in the first quarter of fiscal 2005. This compares to the company's most recent guidance of a net loss per share of $0.48 to $0.53 for the first quarter. EBITDA for the first quarter totaled$1.5 million, compared to a loss of $0.5 million in the prior year period.
marketing@alchempro.com
