Perry Ellis announces record revenue & Q1 earnings estimates
15 May '07
2 min read
Perry Ellis International Inc announced that, based on preliminary estimates, the Company presently anticipates that total revenue for its first quarter ended April 30, 2007, will be approximately $228 million compared to $214 million for the first quarter ended April 30, 2006.
This represents an increase of approximately $14 million, or 7% over the Company's total revenues for the prior year period.
George Feldenkreis, Chairman and CEO, commented, "We are very satisfied with our first quarter results, which reflect the diversity and strength of our brands and operating platform."
"Based on the positive momentum in our business and the growth initiatives we have in place, we have confirmed our annual guidance, expecting fiscal 2008 to represent a record year for Perry Ellis International."
Perry Ellis International further announced that it anticipates first quarter net income of $9.5 million compared to net income of $5.9 million and pro forma net income of $7.8 million for the same period last year.
Earnings for the first quarter are estimated at $0.60 per fully diluted share, compared to earnings of $0.39 per fully diluted share and pro forma earnings of $0.52 per fully diluted share for the same period last year.
Last year's pro forma results exclude the impact of $3.0 million in debt extinguishment costs ($1.9 million net of taxes or $0.13 per fully diluted share) incurred as a result of the March 2006 repayment of the Company's $57 million senior secured notes.
marketing@alchempro.com
