CHS from the PR,
NEW YORK, Aug 31, 1999 (BUSINESS WIRE) -- Bernard Chaus, Inc. (NYSE: CHS) today announced financial results for its fiscal fourth quarter and year ended June 30, 1999.
Fourth Quarter Results For the fourth quarter of fiscal 1999, net income rose more than four-fold to $2.5 million, or $0.09 per diluted share on a weighted average of 27.3 million shares outstanding, from $546,000, or $0.02 per diluted share on a weighted average of 28.1 million shares outstanding, in the fourth quarter last year.
Net sales increased 15.8% to $41.4 million in the fiscal 1999 fourth quarter from $35.8 million in the fourth quarter of fiscal 1998. Excluding sales of the Company's Nautica licensed brand, which was terminated in October 1998, net sales of the Company's core Chaus brand products increased 23.2% in the fourth quarter of fiscal 1999 as compared to last year.
Fiscal 1999 Results For fiscal year 1999, net income more than doubled to $10.8 million from $4.3 million in fiscal 1998. On a per share basis, earnings per diluted share rose to $0.40 on a weighted average of 27.2 million shares outstanding in fiscal 1999, up from $0.28 on a weighted average of 15.3 million shares outstanding last year. Had there been 27.2 million shares outstanding, earnings per share for fiscal year 1998 would have been $0.16.
Net sales in fiscal 1999 were $187.9 million compared to $191.5 million in fiscal 1998. Excluding sales from the Company's outlet stores, all but one of which were closed in the second quarter of fiscal 1998, and the decrease in sales from its terminated Nautica licensed business, net sales of the Company's core Chaus brand increased 10.8% in fiscal 1999. |
