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Finlay registers higher profit in Q4 2007
02 Apr '08
3 min read
For the thirteen weeks ended February 2, 2008, the Company reported income from continuing operations of $13.4 million, or $1.43 per diluted share, compared to $12.2 million, or $1.31 per diluted share, in the fourteen week fourth quarter of fiscal 2006.
The thirteen weeks ended February 2, 2008 includes a pre-tax non-cash charge of $3.0 million, or $0.20 per diluted share, for the impairment of goodwill at our Congress specialty jewelry store division.
Excluding this charge, income from continuing operations would have been $15.3 million and income per diluted share $1.63 for the current quarter, which compares to the Company's guidance of diluted earnings per share in the range of $1.50 to $1.60.
Income from operations before depreciation and amortization expenses (EBITDA) for the fourth quarter totaled $38.4 million, compared to $30.1 million in the prior year period. Excluding the goodwill impairment, EBITDA for the fourth quarter this year would have been $41.4 million. See Reconciliation of EBITDA in the attached tables.
Income from discontinued operations for the fourteen weeks ended February 3, 2007 totaled $4.0 million, or $0.42 per diluted share and net income on a consolidated basis including discontinued operations totaled $16.2 million, or $1.73 per diluted share. There were no discontinued operations in the fourth quarter of the current year.
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The thirteen weeks ended February 2, 2008 includes a pre-tax non-cash charge of $3.0 million, or $0.20 per diluted share, for the impairment of goodwill at our Congress specialty jewelry store division.
Excluding this charge, income from continuing operations would have been $15.3 million and income per diluted share $1.63 for the current quarter, which compares to the Company's guidance of diluted earnings per share in the range of $1.50 to $1.60.
Income from operations before depreciation and amortization expenses (EBITDA) for the fourth quarter totaled $38.4 million, compared to $30.1 million in the prior year period. Excluding the goodwill impairment, EBITDA for the fourth quarter this year would have been $41.4 million. See Reconciliation of EBITDA in the attached tables.
Income from discontinued operations for the fourteen weeks ended February 3, 2007 totaled $4.0 million, or $0.42 per diluted share and net income on a consolidated basis including discontinued operations totaled $16.2 million, or $1.73 per diluted share. There were no discontinued operations in the fourth quarter of the current year.
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Finlay Enterprises Inc
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