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lululemon introduces fiscal 2008 guidance

04
Apr '08

lululemon athletica inc announced financial results for the quarter and fiscal year ended February 3, 2008.

For the quarter ended February 3, 2008:
• Net revenue increased 101% to $105.1 million from $52.2 million for the fourth quarter of fiscal 2006. Net revenue from corporate-owned stores was $92.5 million, an increase of 117% from $42.6 million for the fourth quarter of fiscal 2006, with comparable-store sales increasing 41%, or 24% on a constant dollar basis.

• Gross profit as a percentage of net revenue increased 270 basis points to 54.1% of net revenue from 51.4% of net revenue in the fourth quarter of fiscal 2006.

• Income from operations was $21.7 million, or 20.6% of revenues, compared to $2.2 million, or 4.2% of revenues, in the fourth quarter of fiscal 2006.

• Diluted earnings per share was $0.21 on net income of $14.6 million, compared to diluted earnings per share of $0.01 on net income of $0.9 million in the fourth quarter of fiscal 2006. Excluding a one-time legal settlement expense, diluted earnings per share for the fourth quarter of fiscal 2006 were $0.05.

For the fiscal year ended February 3, 2008:
• Net revenue increased 84% to $274.7 million from $148.9 million for the same period in fiscal 2006. Net revenue from corporate-owned stores was $243.6 million, an increase of 102% from $120.7 million for the same period in fiscal 2006, with comparable-store sales increasing 34%, or 24% on a constant dollar basis.

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