DSW Inc, a leading branded footwear specialty retailer, announced net income of $15.3 million on net sales of $301.3 million for the second quarter ended July 29, 2006, compared with net income of $9.3 million on net sales of $276.2 million for the comparable period last year.
Diluted earnings per share were $0.35 for the second quarter of 2006 compared with $0.28 for last year's second quarter.
The second quarter 2005 results include $3.9 million of interest expense on a dividend note to the Company's controlling shareholder, Retail Ventures Inc.
After adjusting for the dividend interest and the significant increase in shares as a result of the Company's initial public offering in June 2005, pro forma net income for the second quarter of 2005 was $11.6 million, or $0.26 per share.
The exhibit at the end of this release reconciles the non-GAAP pro forma net income and diluted earnings per share to the reported net income and diluted earnings per share for second quarter 2005.
Comparable store sales for the second quarter of 2006 increased 2.2 percent compared with the same period last year.
Six Month Results
For the six months ended July 29, 2006, net income was $32.9 million on net sales of $617.8 million, compared with net income of $16.2 million on net sales of $558.0 million for the comparable period last year.
Diluted earnings per share for the six months ended July 29, 2006, were $0.74 compared with $0.53 for the same period last year.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
