Strong Q3 results reflect Maidenform relentless focus on innovation

12 Nov '09

2 min read

Maidenform Brands, Inc., a global branded marketer of intimate apparel, reported third quarter 2009 net sales of $128.7 million, an increase of 14.3% over the third quarter of 2008, driven by continued strength in its core bra and shapewear businesses, replenishment of its Donna Karan and DKNY licensed brands, the introduction of new programs with off-price retailers and sales to a specialty retailer.

Reported earnings per share (EPS) of $0.67 for the third quarter of 2009 were up 86.1% as compared to EPS of $0.36 in the third quarter of 2008. During the third quarter, the Company recorded a non-cash, one-time benefit of $0.25 per share primarily associated with the recognition of additional net deferred tax assets described later in this press release. Excluding this gain, non-GAAP earnings per share increased 16.7% to $0.42 per share versus $0.36 per share in the third quarter of 2008.

Maurice S. Reznik, Chief Executive Officer, stated, "Our strong results reflect the company's relentless focus on innovation, product leadership and brand building. We are executing our strategies and continue to gain share in the bra and shapewear categories across all of our channels of distribution while simultaneously controlling costs and investing in our business for the future."

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Maidenform Brands, Inc

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