USA: Financial Round-Up
The Dixie Group announced financial results for the fourth quarter and year ended December 30, 2000. For the fourth quarter, the company reported a net loss of $5.7m, or $0.50 per diluted share, compared with net income of $3.1m, or $0.26 per diluted share, for the same period last year. Fourth quarter 2000 sales were $136.9m, down eight per cent compared with sales of $148.4m for the same period in 1999. For the full year 2000, the company reported a net loss of $9.3m, or $0.81 per diluted share, compared with net income of $17.2m, or $1.47 per diluted share, for 1999. Sales for the year 2000 were $568.1m, down five per cent compared with $597.9m in the prior-year period.
Global Sports, a developer and operator of e-commerce sporting goods businesses, today announced revenues of $42.8m for fiscal year 2000, which represents a 678 per cent increase compared to revenues of $5.5m for fiscal year 1999. Pro forma net loss from continuing operations was $39.1m for fiscal year 2000, which represents a 69 per cent increase compared to pro forma net loss from continuing operations of $23.1m for fiscal year 1999. Gross profit was $13.2m and gross margin was 30.9 per cent for fiscal 2000 compared to gross profit of $1.7m and gross margin of 30.7 per cent for fiscal year 1999. Operating expenses excluding non-cash charges were $53.8m for fiscal year 2000
JLM Couture, a designer, manufacturer and marketer of wedding apparel, today said that for the fiscal year ended October 31, 2000, the company had record revenues of $20,032,066, an 11 per cent gain on revenue of $18,097,989 reported a year ago. Net income for JLM's fiscal year was $748,523, or $0.37 per basic share ($0.36 diluted), as compared to $880,169 or $0.44 per basic share ($0.43 diluted) a year ago.
Jaclyn reported financial results for the second quarter ended December 31, 2000. Net sales for the second quarter ended December 31, 2000 were $23,364,000 compared to $18,546,000 for last year's second quarter. The company reported net earnings of $162,000, or $.06 per share, for the second quarter ended December 31, 2000. This compares to net earnings of $102,000, or $.04 per share, for the same period in 1999. Net sales for the six-month period were $43,490,000 compared to $34,161,000 for the same period last year. Net earnings for the six-month period ended December 31, 2000 were $296,000, or $.11 per share, compared to net earnings of $189,000, or $.07 per share, in 1999's first six months.
Jos. A. Bank Clothiers
Jos. A. Bank Clothiers announced that its fourth quarter 2000 earnings per share are projected to exceed the earnings per share for the same period in 1999 by at least 25 per cent. The company's stock price has increased over 90 per cent since the beginning of fiscal 2000 from $3.25 per share to $6.22 per share at the close yesterday. The current market capitalization represents approximately 85 per cent of book value. The company will release actual fourth quarter and full-year 2000 earnings at the end of the day on Monday, March 5, 2001.
The Spiegel Group
The Spiegel Group announced that it achieved a 46 per ent increase in arnings for the year with a nine per cent increase in revenue. The company reported earnings of $124.9m, or $0.95 per share, before the cumulative effect of an accounting change, for the year ended December 30, 2000, compared to $85.3m, or $0.65 per share, for 1999. Net earnings for the fourth quarter ended December 30, 2000 were $65.4m, or $0.50 per share, compared with $74.7m in last year's fourth quarter. James W. Sievers, office of the president and chief financial officer, said: "We achieved our second consecutive year of record earnings, despite a more challenging economy during the fourth quarter. All of our businesses reported higher revenue and operating income for the quarter and the year, except our Eddie Bauer division. Although Eddie Bauer had a disappointing year, with weak customer response to its apparel offer leading to higher markdowns, it did remain profitable. For the year, total revenue increased nine per cent, with five per cent growth in net sales and 49 per cent growth in finance revenue. Comparable-store sales for the company's Eddie Bauer division decreased eight per cent for the year.
The Sportsman's Guide
The Sportsman's Guide announced that pre-tax operating earnings, less one-time charges, were nearly $1.4m, on sales of $59m for the quarter ended December 31, 2000. After one time charges of nearly $1.7 million, the company reported a net loss of $(699,000), or $(0.15) per share, compared to net income of $597,000, or $0.13 per share for the same period one year ago, on sales of $65.7m. For the year ended December 31, 2000 the company reported a net loss of $(3.2m), or $(0.67) per share, on sales of $154.9m, compared to net income of $12,000, or essentially breakeven on an earnings per share basis, on sales of $188.1m, for the same period ended December 31, 1999.
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