Frederick's of Hollywood reports pre-merger fiscal Q2 2008 results

15 Feb '08

3 min read

Frederick's of Hollywood Group Inc announced financial results for its fiscal 2008 second quarter and six months ended December 31, 2007. The financial results do not include the financial results of FOH Holdings, Inc., which became a wholly-owned subsidiary of the Company upon the consummation of its merger with FOH Holdings Inc on January 28, 2008 (the “Merger”) because the Merger occurred after the end of the Company's fiscal 2008 second quarter.

FOH Holdings Inc is the parent and sole stockholder of Frederick's of Hollywood, Inc. Frederick's of Hollywood Group Inc. will report combined financial results for the fiscal 2008 third quarter ending April 26, 2008.

Net sales for the fiscal 2008 second quarter were $17,735,000, compared to last year's $17,524,000. Gross margin, as a percentage of sales, was 33.6% for the fiscal 2008 second quarter, compared to 34.6% in the fiscal 2007 second quarter. Pre-tax income for the fiscal 2008 second quarter was $495,000, compared to $963,000 in the same quarter last year.

Pre-tax income for the fiscal 2008 second quarter included $559,000 of merger related fees. The fiscal 2007 second quarter pre-tax income included a $496,000 gain on the sale of property, plant and equipment and $803,000 of merger related fees.

The Company recorded net income of $297,000, or $0.02 per diluted share, for the fiscal 2008 second quarter, as compared to $578,000, or $0.04 per diluted share, for the fiscal 2007 secondquarter. All per share data contained in this press release does not reflect the one-for-two reverse stock split effected by the Company on January 28, 2008 in connection with the Merger.

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