Oscar Feldenkreis expects strong growth from swimwear/action sports opts
20 Mar '07
3 min read
Perry Ellis International Inc reported results for the fourth quarter and fiscal year ended January 31, 2007.
Fourth quarter of fiscal 2007 total revenues grew to a record level of $231.6 million, an 8.3% increase compared to $213.9 million reported in the fourth quarter of the fiscal year ended January 31, 2006. Fourth quarter of fiscal 2007 revenue increases were balanced across a number of the company's business units including Perry Ellis, swimwear/action sports, direct retail and international.
Fourth quarter of fiscal 2007 EBITDA grew to $25.7 million, a $4.8 million or 23% increase over the same period last year. A table showing the reconciliation of EBITDA to net income is attached. Net income was $10.7 million, a 32% increase compared to $8.1 million reported in the fourth quarter of fiscal 2006, and fourth quarter of fiscal 2007 earnings per share were $0.68 per fully diluted share, a 26% increase from $0.54 per fully diluted share reported in the fourth quarter of fiscal 2006.
Overall fourth quarter of fiscal 2007 results were in line with management's expectations and included a 356 basis point improvement in gross profit margin and a 131 basis point improvement in EBITDA margin to 11.1% of revenues compared to fourth quarter of fiscal 2006. Gross profit and EBITDA margin improvements were driven by increased revenues in higher margin businesses such as swimwear, direct retail, Perry Ellis and international, as well as the strong retail sell through performance of the company's men's wholesale divisions.
marketing@alchempro.com
