In addition, these results included net losses from the Company's Jimmy'Z subsidiary of $0.04 per diluted share for the fourth quarter of fiscal 2006 and $0.03 per diluted share for the fourth quarter of fiscal 2005.
As previously announced, total sales for the fourth quarter of fiscal 2006 increased 16.5% to $506.8 million, from $435.2 million for the fourth quarter of fiscal 2005. Same store sales for the fourth quarter increased 2.2%, compared to the corresponding 14-week period last year.
Full Fiscal Year Performance: Net income for fiscal 2006 was $106.6 million, or $1.98 per diluted share, which includes pre-tax $7.4 million (net of professional fees), or $0.08 per diluted share, from the above mentioned vendor concessions. This net income also included pre-tax $2.1 million of other income, or $0.02 per diluted share, in connection with the resolution of a dispute with a vendor regarding the enforcement of the Company's intellectual property rights.
Excluding these vendor concessions and other income, the Company achieved net earnings of $1.88 per diluted share, representing an increase of 25.3%, when compared to net earnings of $1.50 per diluted share in fiscal 2005. The results for fiscal 2006 also included a $0.04 per diluted share charge related to the expensing of stock options. In addition, results included net losses from the Company's Jimmy'Z subsidiary of $0.12 per diluted share for fiscal 2006 and $0.08 for the fiscal 2005.
marketing@alchempro.com
