Jewelry retailer Finlay registers 10.7% gain in Q4 sales

08 Mar '06

2 min read

Leading retailer of fine jewelry and the largest operator of licensed fine jewelry departments in department stores throughout the United States Finlay Enterprises Inc announced its financial results for the fourth quarter and fiscal year ended January 28, 2006.

For the fourth quarter ended January 28, 2006, the Company reported net income of $28.7 million, or $3.11 per diluted share, which includes pre-tax charges of $2.1 million, or $0.14 per share, associated with severance and accelerated depreciation for store closings in conjunction with the Federated and May merger.

Excluding these charges, the current year's fourth quarter net income was $30.0 million, or $3.25 per diluted share.

This compares to last year's fourth quarter net income of $28.1 million, or $3.02 per diluted share, which includes an after-tax credit of $0.8 million, or $0.08 per share, associated with the liquidation of Sonab, the Company's former European subsidiary.

Excluding these credits, net income for the fourth quarter of 2004 was $27.3 million, or $2.94 per diluted share

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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 $990.1 million in fiscal 2005.

The number of locations at the end of fiscal 2005 totaled 1,009, including 32 Carlyle specialty jewelry stores.

Finlay Enterprises

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