Best Buy Reports Record Fourth Quarter & Fiscal 1999 Earnings
MINNEAPOLIS, March 30 /PRNewswire/ -- Best Buy Co., Inc. (NYSE: BBY - news) today reported record financial results for the fourth quarter and fiscal 1999 year, which ended February 27, 1999.
According to Chairman & CEO Richard M. Schulze, Best Buy reported a 72% increase in net earnings to a record $110.2 million, or 52 cents per diluted share, for the fourth quarter of fiscal 1999, compared to $64.0 million, or 32 cents per share, for the comparable quarter last year. Net earnings for fiscal 1999 increased 138%, to a record $224.4 million, or $1.07 per diluted share, compared to $94.5 million, or 52 cents per share, for the same period last year. Per share figures reflect the 2-for-1 stock split on March 18, 1999.
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