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Perry Ellis reports turnaround in Q4FY17 net income
Mar '17
For the three months ended January 28, 2017, Perry Ellis, a marketer of several apparel brands reported a turnaround in its net income. For the fourth quarter of fiscal 2017, the company posted GAAP net income at $9.0 million or $0.59 per diluted share, compared to a loss of $17.7 million, or $1.18 per diluted share, in the prior fiscal's fourth quarter.

Adjusted net income for the reporting quarter nearly doubled to $10.1 million or $0.66 per diluted share as against $5.4 million or $0.35 per fully diluted share in the same quarter of earlier fiscal.

In the quarter under review, revenue amounted to $204 million, down 4.7 per cent vis-à-vis $214 million, that Perry Ellis posted in the similar quarter of fiscal 2016.

Adjusted gross margin rose by 150 basis points to 38.7 per cent in the fourth quarter of fiscal 2017 from 37.2 per cent in the last fiscal's same quarter. Adjusted EBITDA margin also expanded to 8.4 per cent versus 6 per cent. (AR)

Fibre2Fashion News Desk – India

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