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Destination Maternity Q2 FY’14 diluted EPS plunges 45%

April 24, 2014 (United States Of America)

Destination Maternity Corporation, the world's leading maternity apparel retailer, announced operating results for the second quarter of fiscal 2014, which ended March 31, 2014, and updated its earnings guidance for fiscal 2014.
 
Highlights: 
-Q2 Fiscal 2014 Diluted EPS of $0.24, a decrease from last year's Q2 Diluted EPS of $0.44 and in line with updated guidance of $0.23-$0.24 per share provided on April 10, 2014, but lower than prior guidance of $0.35-$0.40 provided on January 30, 2014
- Q2 Fiscal 2014 Adjusted Diluted EPS of $0.26, a decrease from last year's Q2 Adjusted Diluted EPS of $0.44 and in line with updated guidance of $0.25-$0.26 per share provided on April 10, 2014, but lower than prior guidance of $0.37-$0.42 provided on January 30, 2014
- First six months Fiscal 2014 Diluted EPS of $0.55, a decrease from last year's first six months Diluted EPS of $0.73
- First six months Fiscal 2014 Adjusted Diluted EPS of $0.59, a decrease from last year's first six months Adjusted Diluted EPS of $0.73
- Projected full year Fiscal 2014 Diluted EPS of $1.53-$1.66, compared to Fiscal 2013 full year Diluted EPS of $1.78, and compared to prior Diluted EPS guidance of $1.61-$1.79. Projected full year Fiscal 2014 Adjusted Diluted EPS of $1.49-$1.62, compared to Fiscal 2013 full year Adjusted Diluted EPS of $1.69, and compared to prior Adjusted Diluted EPS guidance of $1.72-$1.90.
- On April 23, 2014 the Company announced that its Board of Directors declared a regular quarterly cash dividend of $0.20 per share payable June 27, 2014.
 
Second Quarter Fiscal 2014 Financial Results
Net income for the second quarter of fiscal 2014 was $3.2 million, a decrease compared to net income of $5.9 million for the second quarter of fiscal 2013. Diluted earnings per share for the second quarter of fiscal 2014 was $0.24, a decrease compared to $0.44 for the second quarter of fiscal 2013. This second quarter fiscal 2014 diluted earnings per share performance was in line with the Company's updated guidance of $0.23-$0.24 per share provided on April 10, 2014, but lower than its prior guidance range of $0.35-$0.40 provided in its January 30, 2014 results.
 
Click here to view full results.
 

Destination Maternity
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