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Wet Seal summer offering shines in Q3
16 Nov '06
3 min read
The Company opened 10 net new stores during the third quarter. At October 28, 2006, the Company operated 416 stores, consisting of 326 Wet Seal stores and 90 Arden B stores.
During the third quarter, the Company repurchased 1,043,235 shares, under an existing share repurchase program, for a total cost of $5,516,000. Repurchases are at the option of the Company and can be discontinued at anytime.
The Company has approximately $61.8 million of federal net operating loss carry forwards available to offset taxable income in fiscal 2006.
Earnings per diluted share for the third quarter of 2005 excluded convertible securities, stock options and warrants and restricted and performance shares because their effect was anti-dilutive.
The rationale for management's use of non-GAAP financial measures is available on the Company's website and as an attachment to the Form 8-K that includes this press release and is being furnished today to the Securities and Exchange Commission.
Fourth Quarter Guidance
For the fourth quarter, earnings are estimated in the range of $0.09 to $0.12 per diluted share, including $3.1 million, or $0.03 per diluted share, for non-cash stock compensation.
During the third quarter, the Company repurchased 1,043,235 shares, under an existing share repurchase program, for a total cost of $5,516,000. Repurchases are at the option of the Company and can be discontinued at anytime.
The Company has approximately $61.8 million of federal net operating loss carry forwards available to offset taxable income in fiscal 2006.
Earnings per diluted share for the third quarter of 2005 excluded convertible securities, stock options and warrants and restricted and performance shares because their effect was anti-dilutive.
The rationale for management's use of non-GAAP financial measures is available on the Company's website and as an attachment to the Form 8-K that includes this press release and is being furnished today to the Securities and Exchange Commission.
Fourth Quarter Guidance
For the fourth quarter, earnings are estimated in the range of $0.09 to $0.12 per diluted share, including $3.1 million, or $0.03 per diluted share, for non-cash stock compensation.
The Wet Seal Inc
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