Apparel marketer Perry Ellis slips into Q3FY16 GAAP net loss

November 21, 2016 - United States Of America

US apparel marketer Perry Ellis International slipped into a GAAP net loss at $5.2 million, or $0.34 per share in the third quarter ended October 29, 2016, as compared to GAAP net income of $2.3 million, or $0.15 per diluted share, in the third quarter of fiscal 2015. Adjusted earnings per share were $0.23 as against $0.16 in the prior fiscal’s third quarter.

For the third quarter of fiscal 2015, total revenue amounted to $194 million, down from $205.4 million the company reported in the previous fiscal’s same quarter.

In the reporting period, gross margin stood at 36.7 per cent, an increase of 100 basis points, over the same quarter of earlier fiscal, while adjusted gross margin was 36.8 per cent and excludes costs associated with the consolidation of sourcing offices in Hong Kong.

Adjusted earnings before interest, taxes, depreciation and amortisation (Adjusted EBITDA) for the third quarter of fiscal 2017 totalled $6.9 million as against $8.8 million in the corresponding period of the last fiscal. (AR)