Texas based chain of upscale ladies' and men's specialty apparel stores, Harold's Stores Inc announced operating results for the third quarter and year-to-date periods ended October 29, 2005.
For the third quarter, the Company reported net income of $88,000 (a net loss of ($290,000) after preferred stock dividends), or $(0.05) per diluted and basic share, compared to net income of $664,000 (net income of $287,000 after preferred stock dividends), or $0.05 per diluted share and $0.04 per basic share in the same period of the previous year.
Net income in third quarter 2005 includes a $703,000 one-time gain from the sale of a building. During the year-to-date period ending October 29, 2005, the net loss was $2.0 million (a net loss of ($3.2 million) after preferred stock dividends), or $(0.51) per diluted and basic share, compared to net income of $241,000 (a net loss of ($881,000) after preferred stock dividends), or $(0.14) per diluted and basic share, in the same period of the prior year.
"Considering the impact that unseasonably warm temperatures had on regular price business during the quarter, and the affect that hurricanes Katrina and Rita had on September business, Company is pleased with third quarter results," said Leonard Snyder, Interim Chief Executive Officer.
The Company's results for the second and third quarters of 2005 have been reviewed by BDO Seidman, LLP, the Company's new independent registered public accounting firm who replaced Ernst & Young, LLP during the third quarter. The Company expects to file a timely third quarter Form 10-Q and will update its second quarter Form 10-Q filing with BDO Seidman's completed review.
marketing@alchempro.com
