Net income was $13.4 million, or $0.59 per diluted share, for the first 26 weeks of fiscal 2006, compared to net income of $12.6 million, or $0.55 per diluted share, in the same period last year. Results for the first 26 weeks of fiscal 2006 include pre-tax charges totaling $1.1 million, or $0.03 per diluted share, for the expensing of stock options.
"We are pleased to report a strong performance for our second quarter," said Steven Miller, the company's Chairman, President and CEO.
"We posted both sales and margin gains in each of our major merchandise categories of footwear, hard goods and apparel. We enjoyed an early and favorable start to the summer selling season driven by warm weather conditions in many of our markets. While we experienced higher distribution center expenses as a result of the commencement of operations at our new and substantially larger facility, we benefited from improved efficiencies at the store level. We are gaining valuable experience in operating our new facility and we are confident that we will realize greater efficiencies in our distribution center operations as we move forward," he added.
For the third quarter of fiscal 2006, the company expects to realize same store sales growth in the low to mid-single digit range and earnings per diluted share in the range of $0.32 to $0.36. This includes a charge of approximately $0.02 per diluted share for the expensing of stock options.
The company expects full-year same store sales growth in the low to mid-single digit range and full-year earnings per diluted share in the range of $1.26 to $1.33. Full-year earnings guidance includes a charge of approximately $0.06 per diluted share for the expensing of stock options.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
