Jewelry retailer Finlay completes acquisition of Carlyle & Co
20 May '05
3 min read
For the balance of fiscal 2005, the Company anticipates Carlyle will contribute approximately $65 million in sales volume and generate incremental diluted earnings per share of approximately $0.15 to $0.20, including the interest cost on the acquisition price. As a result of the projected accretive nature of the acquisition, the Company now estimates full year diluted earnings per share between $2.20 and $2.35, excluding any impact of the potential merger between Federated and May. This compares to diluted earnings per share of $2.25 in fiscal 2004, excluding debt extinguishment costs related to refinancing the Company's debt and credits associated with the liquidation of Sonab, the Company's former European subsidiary.
Finlay Enterprises, Inc., through its wholly-owned subsidiary, Finlay Fine Jewelry Corporation, is one of the leading retailers of fine jewelry and the largest operator of licensed fine jewelry departments in department stores throughout the United States with sales of $923.6 million in fiscal 2004. The number of locations at the end of the first quarter of fiscal 2005 totaled 962.
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