Movie Star reports Q3 fiscal 2007 & nine months financial results
14 May '07
4 min read
Movie Star Inc announced financial results for the fiscal 2007 third quarter and nine months ended March 31, 2007.
Net sales for the fiscal 2007 third quarter were $13,786,000, compared to last year's $11,940,000. Gross margin, as a percentage of sales, increased 4.1 percentage points to 31.3% for the fiscal 2007 third quarter from 27.2% for the fiscal 2006 third quarter.
Selling, general and administrative expenses, excluding merger related fees, were $4,301,000 for the fiscal 2007 third quarter as compared to $4,114,000 in the same period of the prior year. The Company incurred $610,000 of fees for the fiscal 2007 third quarter related to its previously announced merger with Frederick's of Hollywood (“Frederick's”). For the fiscal 2006 third quarter, the Company recorded a $1,424,000 gain from the insurance recovery related to Hurricane Katrina.
For the fiscal 2007 third quarter, the Company recorded a net loss of $435,000, or $0.03 per share, compared to net income of $276,000, or $0.02 per diluted share, in the same quarter last year.
For the nine month period ended March 31, 2007, net sales increased 15.1% to $50,000,000 from $43,444,000 in the same period last year. Gross margin, for the fiscal 2007 nine month period, increased 4.2 percentage points to 32.4% from 28.2% in the comparable period of fiscal 2006.
Selling, general and administrative expenses, excluding merger related fees, were $13,368,000 for the fiscal 2007 nine month period, compared to $12,426,000 for the fiscal 2006 comparable period. Year-to-date, the Company has incurred $1,952,000 of merger related fees.
marketing@alchempro.com
