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dELiA*s posts Q4 & year end fiscal 2007 results

20
Mar '08
dELiA*s Inc, a direct marketing and retail company comprised of three lifestyle brands primarily targeting consumers between the ages of 12 and 19, announced financial results for the fourth quarter and fiscal year ended February 2, 2008.

For the fiscal quarter ended February 2, 2008 (13 weeks versus 14 weeks):
For the thirteen weeks ended February 2, 2008, total revenues increased 3.8% to $92.8 million from the fourteen-week period last year. On a thirteen-week to thirteen-week comparison, total revenues were up 8.8%.

Total gross margin was 39.2% of sales as compared to 40.9% in the fourth quarter of last year, due to lower gross margins in each segment and the effect of the direct segment comprising a lower percentage of total sales versus the same period last year.

Selling, general and administrative expenses were 32.3% of sales as compared to 32.7% in the fourth quarter of last year. Selling costs in the direct segment decreased. This decrease was attributable to savings in catalog costs due to circulation cuts and production cost savings.

These savings more than offset the retail segment's increase in selling, general and administrative expenses as a percentage of sales. The retail segment's increase was due to higher depreciation and amortization expense, the deleveraging impact of the extra week and other costs.

Net income for the quarter was $6.0 million or $0.19 per diluted share as compared to net income of $6.8million or $0.21 per diluted share in last year's fourth quarter. Last year's extra week added approximately $0.03 per diluted share.


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