Diluted earnings per common share increased to $0.26 compared to $0.14 per common share. Weighted average diluted shares outstanding were 24,435,493 shares for the first quarter of 2006 and 21,112,584 shares for the first quarter of 2005.
Total cash and cash equivalents at the end of the first quarter of 2006 were $11.2 million. The Company further reduced its debt outstanding by paying down $4.0 million in the first quarter of 2006 and an additional payment of $3.5 million subsequent to the quarter end.
Through the end of day trading on May 5, 2006, Maidenform purchased $4.8 million of its common stock at an average cost of $10.10 pursuant to the Company's announcement on February 8, 2006 that its Board of Directors had approved a $20 million stock repurchase program.
Maidenform Brands Inc is a global intimate apparel company with a portfolio of established and well-known brands, top-selling products and an iconic heritage. Maidenform designs, sources and markets an extensive range of intimate apparel products, including bras, panties and shapewear.
During the Company's 84-year history, Maidenform has built strong equity for its brands and established a solid growth platform through a combination of innovative, first-to-market designs and creative advertising campaigns focused on increasing brand awareness with generations of women.
marketing@alchempro.com
