Gross margin, as a percentage of net sales, was 56.8% in the first nine months of 2012, compared with 56.6% in the first nine months of 2011. Selling, general and administrative expenses for the first nine months of 2012 were $839.0 million, versus $788.7 million in the first nine months of 2011. As a percentage of net sales, selling, general and administrative expenses improved 40 basis points versus the prior year to 47.5%.
The Company reported operating income of $165.2 million in the first nine months of 2012, an increase of 16% compared with operating income of $142.3 million in the first nine months of 2011. Net income was $100.2 million in the first nine months of 2012, an increase of 19% versus the $84.4 million reported in the first nine months of 2011.Diluted earnings per share in the first nine months of 2012 was $2.05, an increase of 30% over the $1.58 per diluted share reported in the first nine months of 2011.
Ann Inc