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RedEnvelope reports strong Q3 fiscal 2007 results
31 Jan '07
2 min read
RedEnvelope Inc reported financial results for the third quarter ended December 31, 2006.
Net revenues for the third quarter of fiscal 2007 were $57.0 million, compared to $53.0 million in the third quarter of fiscal 2006, an increase of 7.5%. Net income for the third quarter of fiscal 2007 was $5.3 million, compared to net income of $4.1 million in the third quarter of fiscal 2006, an increase of 29%.
Net income per diluted share for the third quarter of fiscal 2007 was $0.56, compared to net income per diluted share of $0.43 in the third quarter of fiscal 2006. Net income for the third quarter of fiscal 2007 includes stock option expenses of $598,000 as required by SFAS No. 123(R), "Share-Based Payment," which was adopted on April 3, 2006.
For the nine months ended December 31, 2006, net revenues were $99.4 million, compared to $91.1 million for the same period in fiscal 2006, an increase of 9.0%. Net income for the first nine months of fiscal 2007 was $0.7 million, compared to a net loss of $(1.1) million for the prior year period.
Net income per diluted share for the first nine months of fiscal 2007 was $0.08 per diluted share, compared to a net loss of $(0.13) per diluted share during the same period in fiscal 2006. Net income for the first nine months of fiscal 2007 includes stock option expenses of $1.7 million, as required by SFAS No. 123(R).
"The third quarter of fiscal 2007 marked another quarter of improving profitability and solid sales growth," said Ken Constable, President and Chief Executive Officer. "Our third quarter results reflect our team's exhaustive preparations and meticulous execution of our holiday readiness plan."
Net revenues for the third quarter of fiscal 2007 were $57.0 million, compared to $53.0 million in the third quarter of fiscal 2006, an increase of 7.5%. Net income for the third quarter of fiscal 2007 was $5.3 million, compared to net income of $4.1 million in the third quarter of fiscal 2006, an increase of 29%.
Net income per diluted share for the third quarter of fiscal 2007 was $0.56, compared to net income per diluted share of $0.43 in the third quarter of fiscal 2006. Net income for the third quarter of fiscal 2007 includes stock option expenses of $598,000 as required by SFAS No. 123(R), "Share-Based Payment," which was adopted on April 3, 2006.
For the nine months ended December 31, 2006, net revenues were $99.4 million, compared to $91.1 million for the same period in fiscal 2006, an increase of 9.0%. Net income for the first nine months of fiscal 2007 was $0.7 million, compared to a net loss of $(1.1) million for the prior year period.
Net income per diluted share for the first nine months of fiscal 2007 was $0.08 per diluted share, compared to a net loss of $(0.13) per diluted share during the same period in fiscal 2006. Net income for the first nine months of fiscal 2007 includes stock option expenses of $1.7 million, as required by SFAS No. 123(R).
"The third quarter of fiscal 2007 marked another quarter of improving profitability and solid sales growth," said Ken Constable, President and Chief Executive Officer. "Our third quarter results reflect our team's exhaustive preparations and meticulous execution of our holiday readiness plan."
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