Earnings are good, beat First Call estimates, stock has rebounded nicely:
Thursday March 23, 12:25 pm Eastern Time
REX Stores Corp. Q4 net rises
DAYTON, Ohio, March 23 (Reuters) -
REX STORES CORPORATION AND SUBSIDIARIES
Consolidated Statements of Income
(in thousands, except per share amounts)
Three Months Ended Year Ended
January 31, January 31,
2000 1999 2000 1999
Net Sales $155,073 $143,629 $464,300 $416,673
Costs and Expenses:
Cost of merchandise
sold 113,284 105,184 337,418 302,894
Selling, general
and administrative
expenses 29,207 28,392 100,589 93,578
Total costs and
expenses 142,491 133,576 438,007 396,472
Income From Operations
12,582 10,053 26,293 20,201
Gain On Sale of
Real Estate 0 2,410 787 2,410
Investment Income 171 60 420 347
Interest Expense (910) (1,619) (5,136) (6,448)
Income (Loss) from
Limited Partnerships
1,027 (1,042) 2,996 (1,312)
Income before
income taxes 12,870 9,862 25,360 15,198
Provision for
Income Taxes 3,226 1,997 6,350 4,003
Income Before
Extraordinary Item 9,644 7,865 19,010 11,195
Extraordinary loss from
extinguishment of debt 0 0 717 0
Net Income 9,644 7,865 18,293 11,195
Basic Earnings Before
Extraordinary Item 1.07 1.10 2.37 1.51
Extraordinary Item 0.00 0.00 (0.09) 0.00
Basic Net Income
Per Share 1.07 1.10 2.28 1.51
Weighted Average
Number of
Common Shares
Outstanding 8,999 7,175 8,022 7,427
Diluted Earnings
Before
Extraordinary Item 0.97 1.04 2.14 1.43
Extraordinary Item 0.00 0.00 (0.08) 0.00
Diluted Net Income
Per Share 0.97 1.04 2.06 1.43
Weighted Average
Number of
Common and
Equivalent Shares
Outstanding 9,947 7,592 8,897 7,833
NOTE: we plan approximately 30 - 35 store openings in
fiscal 2001 |
