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Maidenform CEO feels proud for team's commitment
03 Mar '11
2 min read
Maidenform Brands, Inc., a global branded marketer of intimate apparel, reported fourth quarter 2010 net sales of $118.6 million, an increase of 8.6% over the fourth quarter of 2009. Full year 2010 net sales were $556.7 million, a 19.4% increase over the same period last year.
Reported EPS was $0.29 for the fourth quarter of 2010 compared to EPS of $0.32 for the fourth quarter of 2009. Full year 2010 reported EPS was $1.94 compared to EPS of $1.56 for the same period last year. In 2009, the Company recorded a non-cash, one-time benefit of $6.1 million, or $0.26 per share, primarily associated with the recognition of additional net deferred tax assets. EPS of $1.94 for the full year 2010 was up 49% from EPS of $1.30 for 2009, excluding the one-time tax benefit.
"We have significantly exceeded our long range plan goals for the second year in a row. I am so proud of the Maidenform team's commitment and execution. Our people, our brands and our products position our company for meaningful growth in 2011 and beyond," stated Maurice S. Reznik, Chief Executive Officer.
Financial Results for Fourth Quarter 2010 versus Fourth Quarter 2009
Net sales for the fourth quarter of 2010 increased $9.4 million, or 8.6%, to $118.6 million. Wholesale segment net sales for the fourth quarter of 2010 increased $9.6 million, or 10.0%, to $105.2 million. Retail segment net sales decreased $0.2 million, or 1.5%, to $13.4 million.
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Reported EPS was $0.29 for the fourth quarter of 2010 compared to EPS of $0.32 for the fourth quarter of 2009. Full year 2010 reported EPS was $1.94 compared to EPS of $1.56 for the same period last year. In 2009, the Company recorded a non-cash, one-time benefit of $6.1 million, or $0.26 per share, primarily associated with the recognition of additional net deferred tax assets. EPS of $1.94 for the full year 2010 was up 49% from EPS of $1.30 for 2009, excluding the one-time tax benefit.
"We have significantly exceeded our long range plan goals for the second year in a row. I am so proud of the Maidenform team's commitment and execution. Our people, our brands and our products position our company for meaningful growth in 2011 and beyond," stated Maurice S. Reznik, Chief Executive Officer.
Financial Results for Fourth Quarter 2010 versus Fourth Quarter 2009
Net sales for the fourth quarter of 2010 increased $9.4 million, or 8.6%, to $118.6 million. Wholesale segment net sales for the fourth quarter of 2010 increased $9.6 million, or 10.0%, to $105.2 million. Retail segment net sales decreased $0.2 million, or 1.5%, to $13.4 million.
Click here for more detail.
Maidenform Brands Inc
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