A.C. Moore Corrects Pro Forma Net Income Per Share; $0.03 sted $0.08.--(BUSINESS WIRE)-- In BW1577, (A.C a.c., adv the abbreviation for ante cibum, a Latin phrase meaning “before eating.” .-MOORE) announces third quarter and nine months financial performance, statement of operations See Income statement. , nine months ended Sept. 30, 1997, pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma net income per share should read xxx $0.03 (sted $0.08). Corrected table follows: -0-
A.C. MOORE ARTS & CRAFTS, INC. STATEMENT OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
1997 1996 1997 1996
Net sales $31,295 $25,687 $84,952 $70,666
Cost of sales 19,770 16,416 53,731 45,154
Gross profit 11,525 9,271 31,221 25,512
Selling, general and
administrative expenses 10,779 8,176 29,333 23,809
Pre-opening expenses 397 -- 1,106 140
Income from operations 349 1,095 782 1,563
Interest expense 260 170 540 431
Income before income taxes 89 925 242 1,132
State income tax expense -- 14 7 31
Net income $89 $911 $235 $1,101
Pro forma net income $53 $561 $145 $685
Pro forma net income per share $0.01 $0.12 $0.03 $0.15
Pro forma weighted
average shares 4,623,000 4,623,000 4,623,000 4,623,000
CONTACT: A.C. Moore Moore, city (1990 pop. 40,761), Cleveland co., central Okla., a suburb of Oklahoma City; inc. 1887. Its manufactures include lightning- and surge-protection equipment, packaging for foods, and auto parts. Arts & Crafts, Inc. Leslie Leslie (Gaelic, derived from a surname meaning 'garden of hollies,'grey fortress, or'garden by the pool')[1] can refer to any of the following: Places in Scotland:
Chief Financial Officer (609) 228-6700 or Morgen-Walke Associates Christine DiSanto/Caroline Babbitt/Amanda Mullin Mullin is a surname, and may refer to
Media: Stacy Berns/Jeff Siegel (212) 850-5600 |
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