The Company also saw a significant increase in net income to $16.4 million, an increase of almost 250% compared to net income of $4.7 million last year. This reflects a 250 basis point improvement in EBITDA margin to 7.6% for the first nine months of the year compared to last year.
Fiscal 2011 Guidance
The Company is increasing its fiscal 2011 earnings guidance based on better than expected year to date results. The Company currently expects diluted earnings per share in the range of $1.72 - $1.80 from the previously announced full fiscal 2011 year range of $1.53 - $1.68.
Revenues are expected to surpass $785 million for the full year.
"We are extremely pleased with our results through the third quarter of fiscal 2011. We have successfully executed in the core platforms as well as the new business initiatives we launched coming into the year. We continue to remain optimistic as to performance of our brands and product categories going into the holiday season," commented George Feldenkries, Chairman and Chief Executive Officer of Perry Ellis International.
Perry Ellis International Inc
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