For the thirty-nine week period ended October 1, 2006, net sales increased $47.2 million, or 7.9 percent, to $642.3 million from net sales of $595.1 million in the same period last year.
Same store sales increased 4.0 percent in the first 39 weeks of fiscal 2006 versus the same period last year. Net income was $21.2 million, or $0.93 per diluted share, for the first 39 weeks of fiscal 2006, compared to net income of $19.8 million, or $0.87 per diluted share, in the same period last year.
Results for the first 39 weeks of fiscal 2006 include pre-tax charges totaling $1.7 million ($1.0 million after-tax), or $0.04 per diluted share, for the expensing of stock options, and $1.8 million ($1.1 million after-tax), or $0.05 per diluted share, for costs incurred in the first quarter related to the transition to a new distribution center.
Share Repurchase
During the fiscal 2006 third quarter, the Company repurchased 64,310 shares of the Company's common stock under the Company's share repurchase program, for a total expenditure of $1.3 million. Following these repurchases, the Company has $13.7 million of availability remaining under its $15.0 million share repurchase program.
Quarterly Cash Dividend
The Company's Board of Directors has declared a quarterly cash dividend of $0.09 per share of outstanding common stock, which will be paid on December 15, 2006 to stockholders of record as of December 1, 2006.
Big 5 Sporting Goods Corporation
marketing@alchempro.com
