Mothers Work reports strong Q3 earnings, ups FY earnings guidance
25 Jul '06
4 min read
Mothers Work Inc, the world's leading maternity apparel retailer, announced strong operating results for the third quarter of fiscal 2006 ended June 30, 2006, and significantly increased its targeted earnings guidance range for the full year fiscal 2006.
Net income after stock option expense for the third quarter of fiscal 2006 was $8.8 million, or $1.54 per common share (diluted). Net income before stock option expense for the third quarter of fiscal 2006 was $9.3 million, or $1.64 per common share (diluted), a significant improvement from the net income for the third quarter of fiscal 2005 of $5.5 million, or $1.03 per common share (diluted), which did not include any stock option expense.
The company's diluted earnings per share for the third quarter of $1.54 (after stock option expense), was consistent with its recently revised guidance of between $1.52 and $1.56 per share and significantly exceeded the company's previous guidance range of between $1.20 and $1.34 per share provided in its April 25, 2006 press release.
Net income after stock option expense for the first nine months of fiscal 2006 was $9.7 million, or $1.77 per common share (diluted). Net income before stock option expense for the first nine months of fiscal 2006 was $10.7 million, or $1.96 per common share (diluted), a significant improvement from the net income for the first nine months of fiscal 2005 of $5.2 million, or $0.96 per common share (diluted), which did not include any stock option expense.