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Warnaco delivers strong results throughout fiscal 2007
27
Feb '08
The Warnaco Group Inc reported results for the fourth quarter and fiscal year ended December 29, 2007.

For the fourth quarter:
• Net revenues were $473.0 million, up 6% from the prior year quarter
• Gross margin increased 60 basis points to 39% of net revenues from the prior year quarter
• Income from continuing operations was $22.2 million compared to $26.4 million in the prior year quarter

For the fourth quarter, on an adjusted (non-GAAP) basis (excluding businesses expected to be discontinued in fiscal 2008, pension income, certain tax related items and restructuring expenses):

• Net revenues were $467.1 million, up 7% from the prior year quarter
• Gross margin increased 300 basis points to 42% of net revenues from the prior year quarter
• Income from continuing operations was $19.8 million compared to $21.6 million in the prior year quarter

For the year:
• Net revenues were $1.9 billion, up 12% from the prior year
• Gross margin increased 190 basis points to 40% of net revenues from the prior year
• Operating income increased 15% to $137.0 million and operating margin increased 20 basis points to 7% of net revenues
• Income per diluted share from continuing operations was $1.78 compared to $1.41 in the prior year

For the year, on an adjusted (non-GAAP) basis (excluding businesses expected to be discontinued in fiscal 2008, pension income, certain tax related items and restructuring expenses):


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