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Cherokee reports Q4 & fiscal year 2010 results
16
Apr '10
Cherokee Inc. a leading licensor and global brand management company, reported financial results for the fourth quarter and fiscal year ended January 30, 2010.

Net revenues for the fourth quarter of Fiscal 2010 totaled $7.6 million, as compared to $6.1 million reported in the fourth quarter of fiscal 2009. Selling, general and administrative expenses totaled $2.4 million in the fourth quarter of Fiscal 2010, as compared to $2.3 million in the same period last year. Net earnings were $3.1 million or $0.35 per diluted share, as compared to $2.4 million, or $.27 per diluted share in the same period last year.

For the year ended January 30, 2010, net revenues totaled $32.6 million, as compared to $36.2 million in the same period last year. Selling, general and administrative expenses totaled $12.2 million in Fiscal 2010 as compared to $13.3 million in the same period last year. Net earnings totaled $12.6 million, or $1.43 per diluted share, as compared to fiscal 2009 net earnings of $14.3 million, or $1.61 per diluted share.

Russell J. Riopelle, Chief Financial Officer, added, "We once again ended our year in an enviable and solid financial position, generating a significant amount of free cash flow and a balance sheet with $9.4 million in cash and no debt. This financial strength has allowed us to continue to pay significant dividends to our shareholders. We look forward to continuing to return excess profits to our shareholders, as conditions permit and at the discretion of our Board of Directors."

The Company expects to file its form 10-K for the fiscal year ended January 30, 2010 with the SEC on or before April 14, 2010.

Cherokee Inc

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