bebe stores, inc. Announces Fourth Quarter Earnings Increase of 57 Percent; Revenues Increase 40 Percent Over Fourth Quarter Fiscal 1998
BRISBANE, Calif.--(BUSINESS WIRE)--July 29, 1999--bebe stores,
inc. (Nasdaq:BEBE) today announced financial results for the fourth
quarter of fiscal 1999 ended June 30, 1999.
Net sales for the fourth quarter of fiscal 1999 were $54.2
million, up 40.1 percent from $38.7 million reported for the fourth
quarter a year ago. As previously reported, same store sales for the
quarter increased 18.9 percent.
Net earnings for the fourth quarter were $7.7 million, up 57.1
percent from $4.9 million in the fourth quarter of fiscal 1998. Fourth
quarter earnings per share, on a diluted basis, were $0.30 on
approximately 25.4 million average diluted shares outstanding. This
compares with diluted earnings per share of $0.20 on approximately
24.2 million average shares outstanding in the same period a year ago.
Net sales for the year ended June 30, 1999 were $201.3 million,
up 37.1 percent from $146.8 million reported in fiscal 1998. Net
earnings for the year were $28.0 million, up 60.9 percent from $17.4
million reported in the fiscal 1998. Diluted earnings per share for
the year grew 52.1 percent to $1.11 from $0.73 for fiscal 1998.
"Our strong performance in the quarter was the result of several
factors," said Manny Mashouf, president and chief executive officer.
"These factors include the broad based acceptance of the summer
collection and the successful reach of our high impact marketing |
