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Mothers Work announces Q3 2007 earnings results

25
Jul '07
Mothers Work Inc, the world's leading maternity apparel retailer announced operating results for the third quarter of fiscal 2007 ended June 30, 2007.

Net income for the third quarter of fiscal 2007 was $1.0 million, or $0.17 per common share (diluted), compared to net income for the third quarter of fiscal 2006 of $8.8 million, or $1.54 per common share (diluted). During April 2007, the Company redeemed the remaining $90 million principal amount of its outstanding 11-1/4% Senior Notes, which resulted in an after-tax charge of $0.73 per share in the third quarter of fiscal 2007.

Net income before the debt repurchase charge for the third quarter of fiscal 2007 was $5.5 million, or $0.90 per common share (diluted) compared to the net income for the third quarter of fiscal 2006 of $8.8 million, or $1.54 per common share (diluted), which did not include any debt repurchase charge.

The Company's earnings per share before the debt repurchase charge for the third quarter were in line with the Company's updated diluted earnings per share guidance, provided in its July 12, 2007 press release, of between $0.86 and $0.90 per share.

Net income for the first nine months of fiscal 2007 was $5.0 million, or $0.81 per common share (diluted), compared to net income for the first nine months of fiscal 2006 of $9.7 million, or $1.77 per common share (diluted). Net income before debt repurchase charges for the first nine months of fiscal 2007 was $10.7 million, or $1.74 per common share (diluted), compared to the net income for the first nine months of fiscal 2006 of $9.7 million, or $1.77 per common share (diluted), which did not include any debt repurchase charges.

The debt repurchase charges for the first nine months of fiscal 2007 resulted from the Company's redemption of $25 million of its Senior Notes in December, 2006 and the redemption of the remaining $90 million of its Senior Notes in April 2007.


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