Home / Knowledge / News / Fashion / Perry Ellis record revenues for fiscal 2008 at $864 mn
Perry Ellis record revenues for fiscal 2008 at $864 mn
13
Feb '08
Perry Ellis International Inc announced that, based on preliminary estimates, the Company anticipates total revenue for the twelve months ended January 31, 2008 (Fiscal 2008) to be approximately $864 million, compared to $830 million for the twelve months ended January 31, 2007 (Fiscal 2007).

This represents an increase of approximately 4% over the same period last year. Also, based on preliminary estimates, the Company expects earnings per fully diluted share at the announced range of $1.78 to $1.81, compared to $1.45 per fully diluted share during Fiscal 2007 or approximately a 14% increase over pro forma earnings per fully diluted share of $1.58.

Last year's pro forma results exclude the impact of $3.0 million in debt extinguishment costs ($1.9 million net of taxes or $0.13 per fully diluted share) incurred as a result of the March 2006 prepayment of the Company's $57 million senior secured notes.

The Company ended Fiscal 2008 in a very strong financial position. Working capital requirements were significantly reduced, with inventories down to approximately $135 million compared to $139.7 million in January 31, 2007, and accounts receivables reduced to approximately $138 million compared to $157.1 million at the end of Fiscal 2007. Strong cash flows also allowed the Company to completely pay-off its credit facility as of January 31, 2008.

"We are extremely proud of the results achieved during Fiscal 2008. We grew revenues and earnings to record levels despite the current retail environment and solely through organic initiatives, demonstrating the strength of our growth platforms and business model," George Feldenkreis, chairman and CEO, commented.


Must ReadView All

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Certification for Philippine garment firms availing GSP

Textiles | On 20th Jun 2018

Certification for Philippine garment firms availing GSP

The Philippines has adopted rules on securing certificate of...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Top executives
Textile industry

It will take some time for the people to change their buying choices

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search