Net income up 2% in FY15 at The Children's Place

Diluted earnings per common share stood at $2.80 inFY15 as compared to $2.59 in fiscal 2014, ended on January 31, 2015. Adjusted net income for the fiscal was $74.6 million or $3.60 per diluted share.

Net income for the fourth quarter of fiscal 2015 was $17.5 million or $0.87 per diluted share as compared to the net income of $17 million or $0.79 per diluted share in the corresponding quarter last fiscal.

Owing to the strong results, the company announced a rise of 33 1/3 per cent in its quarterly dividend. The quarterly dividend was declared to be $0.20 per share as compared to $0.15 per share, to be paid on April 28, 2016.

Commenting on the results, Jane Elfers, president and CEO of the Children's Place said, “The Children's Place has a profitable business model which generates strong cash flow. Over the past seven years, we have returned nearly $624 million to shareholders through dividends and share repurchases.”

“This increase in our quarterly dividend is a further reflection of our confidence in our ability to execute on our growth strategies and our continuing commitment to return excess capital to shareholders,” she said.

“Looking ahead, we expect 2016 to be another strong year for The Children's Place,” he added.

For fiscal 2016, the company expects adjusted net income per diluted share to be in the range of $4.00 to $4.10. (MCJ)

Fibre2Fashion News Desk – India